Rising energy prices make EV rapid charging costly: Could soaring electricity prices dampen the UK’s transport electrification?
Current research by RAC, an automotive services company, says the cost to rapid charge an electric vehicle (EV) increased by a fifth within the last 8 months.
The study reports the price has gone up to 44.55p per kilowatt-hour (kWh) since September.
RAC said the 7.81p per kWh rise, from 36.74p at the end of last summer, indicates that the average cost to finish an 80% rapid charge of a standard family sized EV with a 64kWh battery has risen by £4 throughout this timeframe, from £18.81 to £22.81 at present.
In comparison, the cost of filling a 55-litre family car from empty to 80% has gone up by £14.54 since last September, from £59.67 to £74.21.
The RAC’s research reveals that it currently costs on average 10p per mile to charge at a rapid charger, an increase from 8p per mile last September.
This is about half the cost per mile in comparison to filling a family car with petrol, the report shows.
RAC EV spokesperson Simon Williams stated: “Just as the price that drivers of petrol and diesel cars pay to fill up at the pumps is driven by fluctuations in the world oil price, those in electric cars are affected by gas & electricity prices.
“But while electric car drivers may not be immune from the rocketing price of wholesale energy; most notably gas, which in turn dictates the cost of electricity, there’s no doubting that charging an EV still represents excellent value for money compared to filling up a petrol or diesel car.”
Rising energy prices make EV rapid charging costly