The latest Recharge Report reveals that the average cost of charging electric vehicles (EVs) is now lower than the Energy Price Guarantee of 34p/kWh. Slow charging during peak hours has also dropped by over a quarter, from 72p to 53p per kWh, providing relief to drivers who can't charge at home.
Thanks to the extension of the Energy Price Guarantee until June 30, 2023, operators near the curbside have changed their approach to reflect the prices paid by EV owners with dedicated off-street parking. They now offer specialised EV tariffs provided by energy suppliers.
In contrast, petrol prices have stopped falling after eight months. Over the past two weeks, petrol prices have risen from a low of 143.04p per litre to 143.47p, dropping from 166.54p per litre at the end of October.
However, there is some not-so-good news for EV drivers. The tables below show that recharging at higher speeds has become more expensive due to the government ending support for charging businesses under the Energy Bill Relief Scheme (EBRS).
Jack Cousens, head of roads policy for the AA, remains hopeful and says, "We hope this is just a small problem because electricity prices are expected to decrease later this year. Smart EV drivers planning a summer road trip should choose cheaper locations for charging or time their journey to take advantage of lower rates during off-peak hours."
For EV owners using flat-rate tariffs, costs remain mostly unchanged.
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