The flat rate of slow charging for electric vehicles rose by 5p/kWh in April, while the cost of fast charging went up by 1p/kWh during the month according to a new report by the AA.
An increase in the slow charging costs by one EV charging supplier to supermarkets is said to be behind the rise, yet it still remains ‘half the average cost’ of ultra-rapid charging when priced at a flat rate, according to the April 2023 AA EV Recharge Report.
“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.”
Despite this rise, slow charging at a supermarket is – on average – 5p a mile cheaper when compared to the cost of petrol, even when recent drops in the price of fuel are taken into account.
King added: “Used EVs are trading at 47 per cent of their original value, compared to 67.1 per cent for petrol, 65.1 per cent for diesel, 72.8 per cent for hybrids and 62.7 per cent for plug-in hybrids. These comparisons are based on vehicles of 36 months old or 60,000 miles.
“This means 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.”