Ultra-rapid off-peak charging remains cheaper than petrol to end 2023 – AA EV Recharge Report
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The fastest charging speed remains cheaper than petrol despite
falling pump prices Flat rate prices rise in final month of 2023
Tracking shows minimal shift in prices across the year Expected
growth in charging infrastructure should help price competition
The AA EV Recharge Report for December 2023 shows that
off-peak rates on ultra-rapid chargers, offering the fastest
speeds, remains cheaper per mile compared to petrol. Despite
heavily falling pump...Request free
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The fastest charging speed remains cheaper than petrol despite falling pump prices Flat rate prices rise in final month of 2023 Tracking shows minimal shift in prices across the year Expected growth in charging infrastructure should help price competition
The AA EV Recharge Report for December 2023 shows that off-peak rates on ultra-rapid chargers, offering the fastest speeds, remains cheaper per mile compared to petrol. Despite heavily falling pump prices, it cost 12.81 pence per mile to use an ultra-rapid charger during off-peak hours compared to 13.54 pence per mile for a comparative petrol car. Elsewhere, flat rate charging costs, where the rate is the same all day long, rose by as much as 3p/kWh. However, EV drivers with access to a home charger carry out 95% of their recharging at home experience the cheapest rates, even if there are on a ‘worst case’ situation by being on the Energy Price Guarantee fees. AA EV Recharge Report, December 2023. Flat rates;
AA EV Recharge Report, December 2023. Peak and Off-Peak rates;
Over the last 12 months, the level of fluctuation on public charging rates has been fairly muted, and when compared to the rocket and feather approach to pump pricing looks positively static. AA EV Recharge Report, 2023 flat rate tracker; AA EV Recharge Report, 2023 peak and off-peak rate tracker; Jack Cousens, head of roads policy for the AA, said; “Throughout 2023 EV charging costs have offered good value for money while operators have tried their hardest to defer or delay any price increases. “Even when there have been rises, operators have kept increases minimal. Where possible they have reduced costs quickly so the price paid at the charger fairly reflects the cost of energy. “We are expecting a boom in charging infrastructure installations in 2024. Not only will this counter the unfounded fears of running out of charge, it will also build stronger competition within the market as operators will battle it out amongst the ever growing EV car parc.” ends NOTES TO EDITORS * Average prices are the PAYG options without connection fee as at 18 December 2023. Subscriptions are available for all charge point speeds which can unlock a cheaper p/kWh, however rates vary across provider. Calculations based on adding 80% to a Vauxhall e-Corsa, 50kW, with a WLTP range of 222 miles. Adding 80% range equates to 178 miles of range. Vauxhall e-Corsa specifications here: Corsa_Spec_ePG_5_January_2023.pdf (vauxhall.co.uk) Calculations based on Vauxhall Corsa 1.2L (75PS) Petrol with a 40 litre tank. 80% refuel = 32 litres. Petrol: 32 litres @ 141.74 ppl = £45.36. Combined MPG of 47.9 = 335 miles at 13.54 p/mile. Vauxhall Corsa specifications here: Corsa_Spec_ePG_5_January_2023.pdf (vauxhall.co.uk) |
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