Industry News

AA EV Recharge Report – Flat rate prices fall by 8%, but peak rates introduced across all speeds 

posted on 15/02/2023
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The AA EV Recharge Report for January shows that the cost of flat rate charging on the public network fell by up to 8% compared to December, but more providers across all speeds have now introduced peak and off-peak rates. 

The cost of public slow charging, typically carried out on lamppost chargers, fell by 8% to mirror the cost of domestic charging in January, while fast and rapid flat rates fell by 3% compared to December. Petrol pump prices in the same period fell 1.7%. 

By expanding the research carried out by the AA EV Recharge Report to account for 18 charge point operators1 it has discovered that providers at all speeds are now offering peak and off-peak rates across the public network. 

Peak rates across all speeds exceed 70 p/kWh, with fast and rapid peak rates the most expensive on the market, however all providers determine their peak times differently so EV drivers should check the costs prior to plugging in. 

While average petrol pump prices fell by 1.7% in January to 148.80 pence per litre (ppl), the cost per mile of running a petrol car came to 14.21 pence per mile (p/mile)4. EV drivers exclusively using peak rate charge or flat rate rapid and ultra-rapid chargers will lose out, but most will only use rapid charging as a top up on long journeys or peak charging rates if there are few alternatives. 

Jack Cousens, head of roads policy & EV charging, said; "The slight fall in electricity prices has been reflected in the flat rate prices EV drivers pay. The speed in which the prices fell is encouraging and hopefully means the 'rocket and feather' approach to wholesale costs experienced in petrol prices won't be adopted by charge point operators. 

"However, we believe OFGEM needs to keep a watchful eye on peak rate costs to ensure they don't escalate to the point where it puts drivers off using them. Whilst we understand the reasons why peak rates exist, the price needs to be reasonable in relation to the speed of charge."

*Article Source

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