A British motoring association’s latest EV Recharge Report shows a 5p/kWh increase in flat-rate slow charging, as well as a 1p/kWh increase in flat-rate fast charging last month, however, market analysis of used-EV values show that they average half the price of a brand new one.
The rise in flat-rate slow charging was the result of superchargers like Tesco putting up the cost of its electric vehicle charging network, with rates increasing to 44p per kWh from 3 April, which pumped up the average price by 5p/kWh.
But, while the AA said the increase was disappointing, it added that the cost of charging has remained static and incredibly affordable on the whole, especially for the fastest charging speeds.
It also pointed out that compared to petrol costs, which have fallen in the past month, slow charging at a supermarket is on average 5p a mile cheaper while even flat-rate fast charging is cheaper.
Earlier this month, we had reported that AA’s report had found that charging EVs with faster charging points at off-peak times was cheaper than fuelling cars with oil for a second consecutive month, with a 15.6 per cent reduction in off-peak ultra-rapid charging since the start of the year from 71 p/kWh in January to 64 p/kWh in March.
The flat rate for fast-charging increased by 1p/kWh in April, however the pence/mile of using an EV in terms of both slow and fast charging was lower than that of a petrol car. For rapid and ultra-rapid charging, it was higher than petrol but only by one to two pence.
However, there are concerns that worrying numbers of fleets may miss out on the benefits of electrification, including cheaper running costs after recent research by Bridgestone and Webfleet indicated that more than three-quarters of operators (76 per cent) are delaying the switch due to cost pressures.
In the previous report, data showed that a “help to buy” scheme could be a huge success, as seven in ten motorists said they would prefer an electric vehicle if there were some form of benefit to help them buy such a vehicle.
Among such schemes, the most popular option was a mirroring of Scotland’s recently closed Electric Vehicle Loan, which offered customers a zero-per cent loan on an electric car over three to five years.
AA president Edmund King warned that we’re at an important phase on the road to zero-emission vehicles with the ban on new petrol and diesel cars just seven years away.
He added that it was crucial for fleets to lead the way to mainstream electrification, delivering cheaper running costs and lower carbon footprints to companies while also creating a healthy used EV market as a result of fleet sales.
King elaborated: “There appears to be some stalling along the road to electrification from three-quarters of fleets trying to save on capital costs. For some fleets, this could backfire as they will miss out on lower running costs whilst being hit with higher repair bills on an ageing fleet. It will also have a knock-on effect and further delay the uptake of EVs into the mass market.
“We are in a period of flux and uncertainty for many private drivers. Do we buy a used EV now or wait until the cars have a longer range or battery longevity is further tested? Despite this, there are some used electric cars with less than 10,000 miles on the clock now being offered for half the price at new, which is astonishing.”
“There are some bargains out there and it could push those in two minds to make the leap to electric. Hybrid values seem to support that, showing popularity among those wanting to keep a foot in both camps. Drivers should remember that running costs for an EV are considerably lower, they drive well, are better for the environment and are fun to drive.”