EV charging costs plummet in August
Peak rate fast EV charging costs fell by 37p/kWh in August, according to the latest AA EV Recharge Report.
It found that fast peak rate charging costs are now as low as 50p/kWh compared to 87p/kWh in July.
Fast charging
The report attributed the dramatic fall to a more expensive operator no longer having devices delivering speeds between 50kW and 149kW, meaning customers could benefit from cheaper prices elsewhere.
Meanwhile, off peak ultra-rapid charging fell by 5p/kWh compared to July.
The news comes after the Competition and Markets Authority revealed the extent of over-pricing for petrol and diesel across the UK, with average off-peak ultra-rapid charging now 2.5p a mile cheaper than petrol and charging at home is at least 6p a mile cheaper.
Price of charging
Jack Cousens, head of roads policy for The AA, said: “The actions of one operator have made a massive difference to the price of charging, and in a positive way for EV owners. By removing themselves from the ‘fast’ market, they have delivered a 37p/kWh saving to EV drivers using these devices.
“But that’s not all, a targeted drop in off-peak ultra-rapid charging during the summer holidays meant that EV drivers were saving more than they expected.
“However, the cost of using the public network is still a sore subject for those thinking about making the switch, particularly if they don’t have dedicated off-street parking. Letting the government know about the high costs operators are up against is key, especially with the Budget due in November.
“With the right interventions, prices could be even cheaper and make the case for EVs even more compelling. Matching domestic VAT is just the tip of the iceberg, action on standing charges and extending levy exemptions would help keep charging costs down.”
