A typical EV will do three miles per kilowatt-hour (kWh). This varies considerably between models - some cars being much less efficient than others. On this very rough average, given a kWh of home electricity is currently capped at 28p per kWh on a standard variable tariff you can do the maths: 28/3= 9.3 pence per mile.
Given that at the time of the research, Which? calculated a medium sized petrol hatchback would cost 19.9p a mile, you can see a saving of over 10p a mile even at the sky high electricity rates we’re paying at the moment!
Though you can get 9.3p a mile from home chargers, Which? have highlighted the cost ceiling at which an EV will cost more to run per mile than a petrol or diesel car:
Given you pay 28p at home, you may agree that you will pay a little extra to account for operating expenses and profits for a charging company? As we will see, charging companies are taking things right to the limits!
A quick hunt around the web has shown the price that leading public charger companies are charging:
You can see that using public chargers alone, you’ll be paying very similar money to charge your EV to fuel your fossil fuelled car - and considerably more if an IONITY charger is all you can hook up to.
We couldn’t prove that a bunch of oil magnates have sat around a table and discussed just how far to push wholesale energy prices to kill off EVs but the coincidence is right there to see. This winter, energy prices are set to go up by 42% to 39p/kWh. That will mean the EV driver is paying very similar to their old diesel to power their EV.
However, petrol and diesel prices haven’t been forecast but they too will grow considerably as sadly, it ultimately comes out of the same hole in the ground as the source of our electricity.
Renewables will kill our addiction to oil. The sooner we can decarbonise the grid the sooner we can get to cheap and clean electricity. People don’t do electric purely on cost. The idea that we are somehow tackling climate change is a big thing. When we can get cheaper, cleaner grid energy then the economics will be less fraught on the matter - roll on the green revolution!