EV cost management
As we move into a new era of transportation, more and more businesses are pivoting their fleets to EVs.
The shift towards more sustainable vehicles brings many benefits, including reduced emissions and lower maintenance costs. However, it also presents new challenges, particularly around managing and forecasting the cost of charging these vehicles.
In this blog post, we aim to answer these burning questions and provide you with practical tips on how to account and forecast for EV charging costs.
A
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
Amperes, often abbreviated as amps, are a unit of measurement for electrical current. Regarding electric vehicle batteries, the amp rating is the amount of current that can be delivered to a vehicle's battery.
Ampere Hours (often abbreviated to Ah) are used to refer to the amount of current a battery can supply in a single hour. However, Ah is no longer commonly used, as manufacturers more frequently use kWh to measure battery capacity, now.
Acoustic Vehicle Alerting System.
This is a mandatory accessory for electric vehicles which generates sound in order to make those quieter-running EVs easier to hear by vulnerable road users.
B
Battery Electric Vehicle.
Electric vehicles powered solely by battery. These are different from hybrid vehicles which use another energy source in addition to the battery, usually petrol.
Benefit-In-Kind.
This is the tax due on a ‘perk’ like a company car. BIK rates are lower for lesser-polluting vehicles like EVs.
Battery Management System.
The interface between an electric vehicle and its battery. The BMS safeguards the battery’s monitoring, control and protection.
C
Clean Air Zone
An area where action is being taken to discourage polluting vehicles from entering – for example, through charges or outright bans.
Charging Column.
Another term for a charging station. More likely to be used by businesses that need to charge multiple vehicles at once.
Combined Charge System.
Combines the Type 2 plug – the European standard for charging with alternating current (AC) with additional connectors for direct current (DC) charging. CCS provides up to 360 kW charging power.
This is one of the most common charge connector types for DC fast charging (along with CHAdeMO).
CHArge de Move (move using charge).
Another charging standard, most notably found on Nissan Leaf EVs. While it was in competition with Type 2, it is now falling out of favour.
Charging station operator.
The CSO will have selected and installed a suitable charging network infrastructure. By operating this charging station, they assume all responsibilities involved in its management and operation and are liable for ensuring that it is regularly maintained, safe and compliant with current regulations.
D
Direct Current.
The electricity stored in EV batteries is DC. Some newer rapid charging points are now DC.
Direct current charging is more expensive than AC charging, but typically much faster.
Distribution Network Operator.
An organisation licensed to manage grids at regional and local levels. Sometimes, when applying for a wallbox at home, a driver will need to make an application to the DNO (some charge point installation companies will do this for you). This is usually included in the price of installation.
How power is moved from the motor to the wheels. This could be via an automatic, manual or simple EV gearbox.
Direct Vision Standard.
A star rating system, reflecting how much an HGV driver can see through their cab windows (in particular, in relation to nearby pedestrians and cyclists). Vehicles with a low DVS may have to fit additional ‘Safe Systems’ in order to be allowed to drive in some areas, including Greater London.
E
A fleet of electric vehicles, including LCVs and HGVs.
eMobility Provider or eMobility Service Provider.
An EMP/ESP provides access to charging stations run by different Charge Point Operators (CPO).
Extended-range electric vehicle.
This is an EV with a small petrol or diesel motor to help charge the battery.
The compatibility and quality standards that enable uniform identification and billing at public charging stations.
Electrically excited Synchronous Machine.
This refers to an electric motor which uses electromagnets to generate a magnetic field.
Electric Vehicle.
The globally accepted acronym.
Electric Vehicle Supply Equipment.
The international term for electric charging stations.
Cars with a list price above £40,000 pay a VED surcharge (the ‘expensive car supplement’), currently set at £355, for the first five years following the first year of registration.
EVs are currently exempt from this surcharge, but those registered on or after 1 April 2025 will be subject to it.
F
Fuel Cell Electric Vehicle.
An electric vehicle that uses a fuel cell to convert hydrogen into water with the help of atmospheric oxygen. Apart from water, FCEVs do not produce any exhaust gases.
Trucks with a flat, open cargo area, often used for transporting oversized or irregularly shaped items. Popular in the construction industry where loads may not need protection from the elements.
G
The integration of electromobility into the electric grid.
Gross Vehicle Weight.
Otherwise known as Maximum Authorised Mass (MAM), this is the maximum weight of a vehicle or trailer (including load) that is allowed to be carried while on the road. This will be listed in the vehicle manual and on a plate/sticker on the vehicle. Vehicles with higher GTWs may require a driver to have a specific category of driving license to legally operate.
H
Hybrid Electric Vehicle.
A hybrid, or HEV, combines an electric with a conventional drivetrain system. A hybrid automatically uses the optimal drive depending on speed, often using electric drive alone up to around 31mph.
How much energy costs to use. A low tariff is generally more cost effective and applicable to overnight charging. That is why many people refer to it as night-time electricity.
High Power Charging.
HPC delivers up to 350 kW charging power and is ideal for fast charging stops. Cooled charging connectors and plugs are required to attain the highest level of power for HPC.
I
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
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K
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
L
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
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M
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
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O
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
P
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
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R
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
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S
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
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T
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
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U
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
Placeholder Text
V
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
W
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Articulated lorry.
A heavy goods vehicle (HGV) which is a combination of a tractor unit plus trailer.
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X
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.
Z
Alternating Current.
All power produced from the National Grid is AC by default, and must be converted to Direct Current (DC) by the vehicle’s onboard charger in order to be stored in an electric vehicle’s (EV) battery.
AC charging is a charging solution that is generally more suited to home installations, due to being more compact and cost effective than DC charging units to install and operate.