Electric vehicle charging prices fall again
Electric vehicle charging prices have fallen by 2p a litre at a time when petrol prices are rising by about the same amount.
According to the latest AA EV Recharge Report, peak and off-peak charging at the fastest speeds have come down by 2p, while average petrol prices have risen by around 2p a litre in the last week as a result of the Iran-Israel conflict.
EV charging prices are set to fall further in the coming weeks when the OFGEM energy price cap comes into force on 2 July.
Despite this, EV uptake remains sluggish with The AA arguing that government policy is not supporting a wider switch to electric. It has called for further financial incentives for private buyers, such as zero per cent loans or a reduction in VAT.
New incentives
Jack Cousens, head of roads policy for The AA, said; “With the potential for fuel prices to rise in the short term, EV drivers are protected from daily oil price fluctuations. The price of electricity should be cheaper, yet electric vehicle owners benefit greatly from a commodity that offers better stability and uniformity.
“The 2p cut in ultra-rapid charging is a good start ahead of the summer holidays, but more needs to be done to bring down the cost of charging on the public network. The planned reduction to the energy price cap will help drivers charging on their driveway, but the cost in wholesale energy needs to be felt when charging away from home.
“Similarly, there needs to be a targeted effort to help more drivers make the switch to EVs if the only stumbling block is the initial purchase price. At the moment, company car drivers and those with access to salary sacrifice schemes are propping up the new EV market. Ultimately, the more new EV sales that can be made leads to a strong used car market where most UK car sales are made.
“We are pleased that the SMMT has backed our calls for new car incentives, and we urge the government to act as soon as possible to help the EV transition.”
