Electricity now more expensive than petrol on rapid charging 

EV drivers using rapid chargers are paying more to top up their batteries than petrol drivers are shelling out for fuel, new analysis reveals.

Drivers using rapid chargers now pay 20p per mile for their electricity, only a penny less than those using ultra-rapid chargers who pay 21p per mile

Research by the RAC has found that the cost of using public rapid and ultra-rapid chargers has risen by 50% since May, prompting renewed calls for the Government to cut the VAT rate at public chargers.

It now costs an average of 70.32p per kilowatt hour to rapid-charge (up to 99kW speed) on a pay-as-you-go basis; up from 44.55p (58%) last May and from 63.29p (11%) last September.

The rises follow latest increases in the wholesale cost of electricity and mean that drivers now pay £36 to charge a typical family-sized electric car with a 64kWh battery up to 80% – enough to cover some 188 miles. That’s more than twice the cost of charging the same car at home, with the price of the latter coming in at a cost-effective £17.87 – despite the record-high domestic energy prices.

Meanwhile, the cost of using the fastest ultra-rapid chargers, with power outputs of more than 100kW, now stands at 74.79p per kilowatt hour, up from 50.97p in May 2022 (47%) and 63.94p in September. Such chargers cost £38.29 today for an 80% charge; £20.42 more than those able to charge at home.

The analysis shows the premium for using the rapid charging network and reveals that it can be more expensive for an EV driver to recharge quickly on a longer journey than it is for a petrol and diesel drivers to refuel.

Drivers using rapid chargers now pay 20p per mile for their electricity, only a penny less than those using ultra-rapid chargers who pay 21p per mile. These costs are higher than the equivalent per-mile rate for a petrol car that achieves an economy of 40 miles to the gallon (equating to 17p per mile) and are on a par with a diesel car achieving the same economy (20p per mile).

The RAC, along with campaign group FairCharge, has warned that the higher costs associated with EVs – including new car list prices as well as public rapid and ultra-rapid charging costs – could dissuade drivers from making the switch.

And both organisations are renewing their call – backed by several EV charge point operators – for the Government to cut the ‘illogical’ VAT rate charged on electricity bought at public EV chargers from 20% to 5%, mirroring the rate domestic energy users pay. This would see the cost of rapid charging fall by 8.79p per kilowatt hour (to 61.53p) and ultra-rapid charging by 9.35p (to 65.44p).

Quentin Willson, founder of the FairCharge campaign, said: “While affordable home charging remains a real incentive for British drivers to go electric, we remain concerned that the small but significant proportion of drivers without access to private parking are doubly disadvantaged by more expensive charging costs and an added tax burden. This archaic VAT policy means that those without home charging pay four times the rate of tax as those charging at home – the Government should set this right, not simply out of sheer unfairness but also to ensure public charging remains an affordable option for all drivers as we seek to bring down air pollution and decarbonise our roads.”

RAC EV spokesperson Simon Williams added: “Cutting the level of VAT on electricity sold at public chargers to 5% to match what people pay at home would be one way of keeping prices under control and would show the Government remains committed to doing everything it can to get more drivers to go electric.”

Public charging costs compared

Average cost to charge per kilowatt hour, by charger speed

‘Rapid’

23-99kW

‘Ultra-rapid’

100kW+

Sep-21 36.74p 34.21p
May-22 44.55p 50.97p
Sep-22 63.29p 63.94p
Jan-23 70.32p 74.79p
Change Sep-22 to Jan-23 +7.03p (+11%) +10.85p (+17%)

 

Average cost to charge a 64kWh car to 80%, by charger speed

‘Rapid’

23-99kW

‘Ultra-rapid’

100kW+

Sep-21 £18.81 £17.51
May-22 £22.81 £26.10
Sep-22 £32.41 £32.74
Jan-23 £36.00 £38.29
Change Sep-22 to Jan-23 +£3.60 +£5.56

 

Comparing the cost of charging an EV to filling up a petrol or diesel car

The RAC’s analysis shows those able to charge at home continue to enjoy the biggest cost-savings when driving electric cars. Indeed, those regularly using the public rapid and ultra-rapid charging network pay an enormous premium for doing so:

55-litre petrol car, 40mpg (full fill up for c484-mile range) 55-litre diesel car, 40mpg (full fill up for c484-mile range) 64kWh electric car, 3.5mpkWh (charges to achieve c484-mile range) Savings with electric car vs petrol Savings with electric car vs diesel
£83.08 £95.68 £44.74 when charging at home £38.34 £50.94
£83.08 £95.68 £92.69 when rapid charging EV away from home -£9.61 £2.99
£83.08 £95.68 £98.59 when ultra-rapid charging EV away from home -£15.51 -£2.91

Analysis completed by the RAC

For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for over 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day.