Public EV charging costs remain stubbornly high despite a significant drop in wholesale electricity prices, according to the RAC.
The RAC’s Charge Watch data shows that the average cost of using rapid chargers (50-149 kW) is 79p per kWh, virtually unchanged from January and up 28% on 2022.
Ultra-rapid chargers (150 kW+) are slightly cheaper at 78p per kWh. Charging a family-sized EV from 10% to 80% costs more than £40, making public charging up to 10 times more expensive than home charging.
Off-peak home charging costs as little as 7p per kWh, meaning drivers with access to home chargers can fully charge their EVs for less than £16.
By contrast, those reliant on public chargers face significantly higher bills, raising questions about fairness in EV costs.
This also feeds into the background of public reticence which has lead to slump in EV sales.
The RAC highlights three key reasons for the high cost of public charging:
- Higher electricity charges for networks: Operators face steep costs for securing electricity supplies, including future capacity needs.
- Infrastructure investment: Public charging networks are shouldering the bulk of infrastructure development, building for a future where EVs become mainstream.
- Lack of a price cap: Unlike domestic energy, public chargers are not protected by an Ofgem price cap, leaving networks exposed to market volatility.
RAC spokesperson Simon Williams said: “While home EV charging is becoming cheaper, public charging remains a premium service. Networks are investing heavily in infrastructure, but more needs to be done to bring costs down for drivers who rely on public chargers. The absence of a price cap makes public charging particularly vulnerable to high costs.”
The RAC is urging policymakers to consider measures to support charging networks while ensuring affordable access for EV drivers, particularly those without home chargers.
Copyright © 2024 Energy Live News LtdELN