Even with higher price cap announced today, electricity still a cheaper ‘per mile’ solution, says Steve Tigar, CEO of lovelectric.cars.

Vauxhall Corsa-e

Figures from loveelectric.cars, show that driving an electric car is still cheaper than a petrol/diesel equivalent, evening taking into account the latest price cap rise.

The latter end of 2022 will see the cost of electricity rise to 52p per kWh. Fully recharging the Vauxhall Corsa-e’s 50kWh battery at the 52p per kWh rate will cost £26. With a range of 209 miles, that’s 12.4p per mile.

Further savings can be made by utilising an EV-friendly tariff. The Corsa-e can be charged for four hours a day at only 4.50p/kWh. If only charged during these off-peak times, a full charge is only £2.25. That’s just 1.07p per mile.

This compares to the petrol-powered 1.2L Corsa which achieves 49mpg. Using an average petrol price of £1.73 per litre grants the 1.2L Corsa a rate of 16p per mile.

While motoring is becoming increasingly expensive for households running petrol and diesel cars, the bottom line is that electricity is still a cheaper ‘per mile’ solution than traditional fuel engines – even with the incoming higher price cap.

The shock of the energy price cap won’t impact the sales of electric vehicles because switching to electric is the smart decision to drive down the running costs of motoring.

For drivers who want to make the switch to electric but are worried about the initial outlay, EV-specific salary sacrifice schemes are available.