Despite an increase of over 15% in the price of public charging, most EV drivers can still save over £400 a year on charging costs. Zap-Map, the UK’s leading charge point mapping service, has found that the price of charging varies substantially across different types of chargers, which means that, despite rising electricity prices, EV drivers using a mix of different charging options can still save money compared to refuelling a petrol or diesel car.
Zap-Map’s analysis considers more than 500,000 charging sessions per month, across approximately 70% of the charge points in the UK. The findings show that, in December 2022, prices for slow/fast charge points were up 17%, from September 2022. While prices for rapid/ultra-rapid chargers were up 14% in the same period. Despite this, it is still cheaper to run an electric vehicle than an internal combustion engine (ICE) vehicle. So, while the cost of charging on the public network may well have increased, EV drivers can still save versus driving an ICE car. In addition, there are other cost benefits associated with electric cars, such as lower maintenance costs, exemption from Vehicle Excise Duty (VED) and subject to much lower rates of company car tax.
“Zap-Map’s Price Index keeps track of the price that EV drivers pay when out and about, as well as how prices vary across the different types of chargers,” said Melanie Shufflebotham, Co-founder & COO at Zap-Map. “This helps drivers to seek out the cheapest charging options and keep an eye on costs. Although electricity prices have risen significantly, the Price Index shows that you can still save money while being kinder to the planet.”
At present, many EV drivers can charge at home. According to Zap-Map’s latest EV Charging Survey – which saw responses from more than 4,300 EV drivers across the UK – 84% of respondents have access to a home charger. However, as more and more drivers make the switch to electric, the proportion of drivers without access to a home charger will only increase.
The new analysis comes after record electric car sales in December, which saw more than 42,000 pure-electric cars sold, overtaking petrol for the first time.