Electric car rapid charging costs soar, says RAC

The cost of quickly charging an electric car has risen sharply as energy costs soar, the RAC said.

However, charging electric cars still remains cheaper than petrol and diesel, the automobile organization said.

Rising electricity and gas prices, in part since the Russian invasion of Ukraine, are responsible for rising charging costs.

However, fuel prices have risen faster as crude oil suppliers struggle to meet demand.

The price of charging an electric car on a pay-as-you-go basis without a subscription at a publicly accessible fast charger has increased by 21% over the past nine months, the RAC said.

Even charging at home is becoming increasingly expensive as utility bills continue to rise.

The cost of the electricity used to power electric vehicles varies depending on the customer’s household tariff.

But both fast charging and home charging are still cheaper than petrol or diesel per mile.

Electric vehicle (EV) charging costs nearly half the cost per mile compared to filling up a family car with gasoline, the auto organization said.

According to the RAC, the average cost of a liter of petrol has increased by 25% and diesel by 30% since last September.

Diesel prices rose to a record high of over £1.80 a liter this month.

“While EV drivers may not be immune to the skyrocketing prices of wholesale energy – particularly gas, which in turn dictates electricity costs – there is no doubt that charging an EV is still excellent value compared to filling up on a petrol vehicle or diesel car,” Simon Williams, spokesman for RAC Fuel, told the BBC.

The top three fast charging companies are BP Pulse, Instavolt and Osprey according to the Zap Map, which tracks the distribution and costs of charging points.

Mr Williams said that “unsurprisingly” the fastest chargers are also the most expensive, with ultra-fast chargers costing on average 14% more than fast chargers.

While the RAC analysis revealed on-the-go pricing, private EV owners may not use it as their primary charging method.

The RAC said the cheapest way to charge an electric car is from home, where overnight electricity prices can be much lower than public chargers.

According to the AA Motoring Group, some electric vehicle owners are using rates as low as 4.5p per kilowatt-hour when charging at home during off-peak hours.

In addition, charging at lampposts is 46% cheaper than fast charging on the go.

But it said that option is currently only available in some parts of the country.

“Unfortunately, since 2017 only 87 local authorities out of nearly 400 across the UK have applied for the on-street charging grant,” said Jack Cousins, the AA’s head of road policy.

“This needs to improve dramatically so that EV drivers across the country have access to good, local charging stations,” he said.

Another reason home charging can be so much cheaper than fast charging is “the bizarre way electricity is taxed,” added the RAC’s Simon Williams.

“Right now, VAT on electricity from a public charger is four times higher than on household electricity, making on-the-go charging much more expensive than it should be,” he said.

Electric cars also typically cost thousands of pounds more than their petrol or diesel counterparts.

This is because EV batteries are expensive to manufacture and require a high level of investment to convert existing factory production lines to produce the new technology.

However, costs are expected to come down in the near future: industry group Society of Motor Manufacturers and Traders predicts electric and internal combustion engine cars will cost about the same “by the end of this decade.”

Melanie Shufflebotham, co-founder of Zap Map, said: “More mid-range electric cars need to be produced, with the cost of living crisis it’s becoming really difficult for a lot of people to buy a new car, but subscription models exist.”

“By 2025 there should be price parity for electric cars as battery prices fall.”

“Although costs have increased, EV drivers are happy they are saving even when charging at the most expensive public charging points compared to fossil fuels,” she added.