Electric cars now cheaper to run than petrol according to AA
Thu, 13 Apr 2023
Electric cars are cheaper to ‘fuel’ than petrol cars for the first time, according to the latest AA EV Recharge Report.
This is thanks to an 8p/kWh reduction in off-peak ultra-rapid charging. However, this reduction depends on the time of day and the charging provider, with some cheaper off-peak charging available outside 6pm to 8pm, while other chargers switch to off-peak only after 8pm.
The average cost of off-peak charging has dropped from 60p/kWh to 52p/kWh, while peak charging at these speeds is also cheaper, having fallen from 74p/kWh to 67p/kWh.
The latest AA EV Recharge Report comes following the 2023 Budget, which announced an extension to the domestic Energy Price Guarantee to 30 June 2023 but failed to significantly invest in boosting the public charging network.
The AA is concerned that the UK will miss its target of 300,000 publicly available charging units to be installed by 2030 without more action to assist local councils, EV charging companies and energy providers in delivering this necessary infrastructure.
The AA is been calling on the government to slash the VAT on public charging to 5% to help the two fifths (40%) of households that do not have any form of dedicated off-street parking and are solely reliant on the public charging network.
Jack Cousens, head of AA roads policy, said: "EV owners are still reaping the benefits of cheaper per mile motoring, and this could improve further if energy costs fall later in the year. The recent shift in peak and off-peak charging prices for ultra-rapid devices provides brilliant value for money, especially with Easter just around the corner.”
However, the cost of slow charging has gone up with flat rate fixed prices, rising nearly 9%, from 34 p/kWh to 37 p/kWh. The AA is concerned that this rise may make charging less attractive for drivers who are looking to charge their car at home overnight, as this can take up to 12 hours.
The report highlights that as more cars will be driving longer distances away from home during the summer months, the reduction in ultra-rapid charging costs will reduce the business cost of travel by EV, where ultra-rapid charging reduces travel times.
The AA's calculations were 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. This was compared with a Vauxhall Corsa 1.2L (75PS) petrol with a 40 litre tank and 80% refuel.
