The real price of charging your electric car – and how to keep down costs

In the run-up to the 2030 ban on the sale of new petrol and diesel cars, more motorists are considering making the switch to electric.

The ban is part of the UK’s drive to meet net zero, but for the consumer, going green comes with a price tag.

Not only could a new family EV easily set you back £25,000, you also need to factor in the impact the recent spike in energy prices has had on charging costs.

Public charger rates are typically significantly higher than those for private users, plus VAT is charged at 20pc. This compares to just 5pc if you can charge at home.

If you are determined to make the move to electric, it’s important to understand the real price of charging your EV – and the steps you can take to keep costs down.

Here we take a closer look.

How does the price compare with petrol and diesel?

The UK has a myriad of charging point operators which run chargers of differing speeds. These include “rapid” devices and “ultra-rapid” devices which can deliver charges of up to 350kW.

According to the RAC, the cost of rapid charging a 64kWh battery to 80pc is just over £35. This would give you a range of around 188 miles.

So what about the average cost per mile?

The latest analysis from the RAC shows you would pay 21p per mile to charge an EV with an ultra rapid device, and 20p per mile with a rapid device. This compares to paying 17p per mile to fill your car with diesel and 16p per mile with petrol (though prices are volatile).

Costs fall significantly if you are able to charge your car at home, making this a much cheaper option.

But given that as many as one in three households are likely to be unable to do this, a large number of drivers will rely on using public chargers.

This is why campaigners, including the FairCharge campaign, supported by the RAC, are calling for an affordable, reliable and fit-for-purpose network of chargers across the UK, as well as for VAT on public charging to be cut to 5pc to match the domestic 5pc levied on domestic electricity.

The AA is another body calling on the Chancellor to address the VAT discrepancy in his upcoming Budget this autumn.

What about charging at home?

If you are able to charge your EV at home, you could pay as little as 10p per mile (and potentially even less).

Using a “slow charge point” remains one of the most cost-effective options. It may take a little longer, but you will make savings. Almost all home chargers tend to be 7kWh which puts them in the slow category. With this type of charger, you just plug it in and go about your life.

Simon Williams, of the RAC, said: “The cost of charging at home remains significantly cheaper than using a rapid or ultra-rapid public charger, even with current domestic energy prices.”

Where possible, you should also make sure you’re charging your EV overnight. Tim Alcock, of LeaseElectricCar.co.uk, said: “Many electricity providers offer cheaper rates at off-peak times, generally between midnight and 7am.”

For example, the Hive EV charger (Hive is affiliated to British Gas) allows drivers to charge during off-peak hours.

Gav Murray, director of EVs at British Gas, said: “This helps to balance demand on the grid and saves customers money on their electricity bills.”

With the British Gas PeakSave tariff, customers receive off-peak electricity between midnight and 5am at a rate under 10p per kWh.

Mr Alcock added: “Some companies also provide specific tariffs, especially for EV owners, with renewable electricity and extended times where the prices to charge are lower.”

As a guide, you could expect to pay just over £22 to fully charge a 64kWh battery at home on a standard energy tariff, and even less on an EV-specific tariff.

While this may sound persuasive to those contemplating switching to an EV, you must not forget about installation costs.

John Wilmot, of car leasing comparison website LeaseLoco, said: “The cost of actually getting a home charger set up could be between £500 and £1,000.”

One way to recoup a bit of cash is by renting yours out to neighbours who don’t have one of their own. You can do this using an app such as Co Charger.

Joel Teague, founder of Co Charger, said: “You get to make money from a charger that otherwise does nothing for 95pc of the time.”

He adds that when it comes to trying to compare petrol and diesel cars with electric cars, it’s important to understand that charging is not like fuelling.

He said: “What it is safe to say is that running an EV by charging at home is still far cheaper than running petrol or diesel.”

How much does it cost to charge your car at public stations?

As with filling up a petrol or diesel car, there can be a premium for charging at motorway service stations and other prime locations.

Mr Teague said: “Costs can be higher in some places, though it’s less predictable than the long-established fuel market. Generally, you could expect to pay more for a super-rapid charger next to a major route, than for a slower one in an area with less footfall.”

If you use a rapid charge point, which you can find across the motorway network, you could expect to pay up to £22 per half-hour charge.

Also be aware that some providers offer a subscription-based service. For example, charge point provider BP Pulse offers prices between 44p and 67p per kWh for members, and between 57p and 69p per kWh for guests or contactless users.

Equally some EV operators, such as the Tesla Supercharger Network, offer free or discounted pay-per-use charges, but only for Tesla vehicles.

Mr Wilmot said: “These charge points are free-to-use for older Tesla models, whereas more recent Tesla drivers who bought or leased their vehicle after January 2017 may only get a set number of free charging hours – though that’s still better than nothing.”

How much does it cost to charge at the workplace?

In the drive to adopt eco-friendly practices, more and more workplaces are offering EV charging to employees. Those firms which do offer it often do so as a free perk, or at a heavily-discounted rate.

To find out more, you need to speak to your employer.

Mr Alcock added: “The Government provides the Workplace Charging Scheme, offering a voucher-based system to help businesses fund the initial cost of buying and installing charge points.”

How to charge your car for the least amount of money?

1. Charge up at home

2. Charge overnight when the lower electricity tariffs are available

3. Consider switching to a dedicated EV energy tariff

4. Plan journeys carefully to avoid expensive public rapid charge points

5. Take advantage of free charge points. These are often located in supermarkets, shopping centres, car parks, on forecourts, and at hotels and attractions. To avoid any fines, be sure to check if there are any restrictions, such as a time-limit on how long you can charge for, or the requirement to make an in-store purchase. To find a charge point near you, use sites such as Zapmap.

6. Take steps to optimise the battery life. This includes driving efficiently (avoiding strong acceleration and braking), and keeping your car in a garage (if you can). Having a better battery life will increase the overall charge range on an EV.

What happens if you run out of charge?

If you drive an electric car, your vehicle will warn you ahead of time with a series of warning lights telling you to charge up before running out and breaking down.

Jack Cousens, of the AA, said: “Completely running out of charge is an incredibly hard thing to do. Long before this happens, your car will alert you. It will also inform you of the locations of the nearest charging points.”

If, however, you do end up having to pull over and call for roadside assistance, recovery companies will come to your assistance.

The AA has a clever “freewheel hub” which means you can easily be towed to the nearest charger. The RAC has generators in some of its vans to give you enough juice to get to a charge point.