The price of fast public electric vehicle (EV) charging remains high despite a fall in wholesale energy prices, according to the RAC.

Unlike the low prices enjoyed by drivers who can charge their vehicles at home, the price of using the fastest chargers, which drivers rely on for journeys beyond the reach of their vehicles, has been virtually unchanged since the start of the year. the year.

The average cost of fast pay-as-you-go charging, using chargers between 50 and 149 kilowatts, currently stands at just under 80 pence per kilowatt hour (79.19 pence/kWh), virtually unchanged in beginning of the year. (79.55p) but up 4% over the past year and 28% compared to two years ago.

So today’s drivers pay £41.18 to charge a family electric car from 10% to 80%, giving a range of around 170 miles.

Using the country’s fastest super-fast chargers – those with an output of 150 kilowatts or more which can charge many electric vehicles in minutes – costs a similar 77.67p/kWh, making just one charge 10-80% costs £40.39.

Off-peak home charging can cost just a seventh of the price of a streetlight or street charging point where they exist (7p, compared to between 49p/kWh), and less than a tenth of the price of using a much more common fast or ultra-fast charger (7p, compared to 80p and 78p/kWh).

RAC spokesman Rod Dennis said: “EV drivers may be frustrated that the cost of using fast or ultra-fast chargers remains stubbornly high, despite falling wholesale prices of energy.

“But they might also be surprised to learn that the real cost of the electricity they use when charging is a relatively small part of the total price they have to pay due to high charges levied on networks for upgrades and network connections. .

“Charging networks are now spending huge sums of money to install the charging infrastructure that increasing numbers of drivers will use in the years to come, as more and more of us switch to electric vehicles .

“The figures show that so far, almost twice as many of the fastest chargers have been installed this year compared to last year, and almost four times as many as in 2022.”

The low cost of home charging means that even drivers on a standard home electricity tariff pay no more than £15.88 to fully charge an electric vehicle from 0% to 100%.

This is a drop from the peak of around £22 reached in late 2022 and 2023 and could lead drivers to wonder why prices for public charging have not fallen, when the cost of charging at home has fallen due to falling wholesale energy costs: since the end of August 2024, the wholesale price of electricity has been just below 9p/kWh, down from the peak of 51 pence reached in August 2022.

The reason, according to the RAC, is threefold. First, charging networks that build and operate fast and ultra-fast chargers have faced huge increases in some of the tariffs they pay for the supply of their electricity, including those covering the capacity they will need in the future.

Second, it’s the same charging networks that do the vast majority of the “heavy lifting” when it comes to the vital task of installing and managing the nation’s electric vehicle charging infrastructure, which means the prices they charge drivers need to be higher to help finance. This.

Networks are effectively building charging points now to meet the future needs of drivers, given that electric vehicles make up less than 4% of the total number of cars on the UK’s roads.

Finally, unlike what exists for domestic energy customers, there is no price cap applied to electricity purchased by companies, including charging networks.

Ofgem’s domestic price cap has been crucial in keeping national energy bills low after wholesale prices soared following Russia’s invasion of Ukraine.

Dennis continues: “Of course, not all drivers rely on these fastest, most powerful chargers, but they are a crucial part of the charging mix.

“They are particularly important for drivers who do not have their own off-street parking space and therefore cannot benefit from cheap rates for charging an electric vehicle at home.

“Our figures highlight the huge gap in prices between those paid by electric vehicle drivers to use public charging stations and those paid by electric vehicle owners at home.

“On the one hand, anyone with an off-street parking space and an installed home charger can charge just one-seventh of the price of using a street light or charging point outside of hours. peak where they exist, and less than a tenth of the price of using a street lamp or charging station outside peak hours, where they exist, and less than a tenth of the price of using a high-power public charger.

“For these reasons, it is vital that the costs of public charging for drivers fall. »

He added: “Reducing the VAT rate charged on electricity sold at electric vehicle charging points from the current 20% to match the 5% charged to domestic customers would be a big help, but it has not was included in last month’s budget.

“The best prospect of price cuts may come from a review by Ofgem and, therefore, a reduction in the extra charges charging networks have to pay. If these costs fall, drivers could finally expect lower public charging costs in the future.”

Vicky Read, chief executive of ChargeUK, said: “We believe reforms are needed to help charge point operators make public charging as affordable as possible.

“The sector has committed to spending £6 billion ahead of demand and profitability to deliver the charging infrastructure the UK needs.

“With a public charger installed every 25 minutes and a network expanding by 42% per year, we are on track to achieve this. Our members are also committed to making charging as affordable as possible, as we know it is a key factor in the decision to switch to electric vehicles.

“But operators face significant costs beyond their control. VAT charged at 20% for public charging (compared to just 5% at home), fixed rates for fast charging which have increased more than 10 times over the last 18 months, wholesale electricity prices which remain among the highest in the EU28 and the fact that British operators do not benefit from carbon credit schemes, unlike many of our European counterparts.

“We are calling on the Government and Ofgem to act now to ensure affordability is not a barrier to the transition to electric vehicles.”

LCP Delta research indicates that 84% of all-electric car drivers in the UK have private off-street parking, which is significantly higher than the general population.

John Murray, Head of Electric Vehicles at LCP Delta, said: “To enable mass adoption of electric vehicles, we need affordable and accessible charging infrastructure that works for everyone.

“When public charging prices exceed 50p/kWh, the cost of running an electric vehicle is typically higher than the equivalent cost of refueling a petrol car.

“Public charging prices remain too high and must come down for electric vehicles to be a realistic option for drivers who cannot park at home.

“To ensure we have a fair and future-proof public charging infrastructure, we support ChargeUK’s calls to reduce the VAT rate on public charging from 20% to 5%.

“Public charging point operators continue to do an excellent job deploying public charging infrastructure across the UK. However, high initial capital expenditures, coupled with high energy procurement costs and other costs beyond their control, mean that most players are not making a profit today. Comprehensive grid connection and planning reforms are essential to meeting national EV charging targets.

Curbside charging costs are increasing, but the increase is not as steep as in 2023

The AA says peak hour charging on slow chargers, usually street lamps in residential areas, increased by 11p/kWh in October.

Although the increase is less steep than last year (13p/kWh in 2023), the cost of peak hour charging at a public slow charger is now 69p/kWh compared to 67p/kWh ago at 12 months, according to AA’s EV Recharge. Report.

The timing of the increase goes hand in hand with the rising cost of domestic energy, but those able to charge at home at a standard rate will still be able to enjoy motoring at less than 6p a mile. Typically, streetlight charging prices drop in summer, reflecting household electricity costs.

Elsewhere, charging at super-fast stations increased by up to 3p/kWh in a month, but fast charging costs fell by 2p, meaning it would cost around £23 to add 80%. battery to an electric vehicle.

In contrast, the price of fuel fell in October to 134.50p per liter, giving a refueling cost of £43, or 11.76p per mile. However, fuel prices are now on the rise, with petrol up 1p a liter so far in November and set to become more expensive as winter approaches.

Jack Cousens, head of roads policy at the AA, said: “Electric vehicle owners who don’t have their own parking space won’t be happy with rising residential charging costs. However, because these increases occur during peak times, typically when people are coming home from work, if they are willing to plug in before bed, they can charge overnight at a competitive rate.

“While price increases are always disappointing, the difference between electric vehicle costs and gasoline costs is that charging companies offer much more stability and consistency than gas stations.

“We expect there to be little fluctuation in charging station prices over the winter, as gasoline drivers fear their costs will increase daily.”