Residential charging costs fall by 12% – AA EV Recharge Report

Peak rate slow charging, typically found in residential areas, fell by 12% in a month, according to The AA EV Recharge Report for June 2024¹. Similarly, off-peak slow charging fell by 3p/kWh over the same period. EV owners who park on the road outside their homes and charge at off-peak times from kerbside supply are now typically saving 3.3p a mile compared to equivalent petrol costs. Those with their own domestic supply are saving at least 7.4p a mile on a flat-rate tariff.

The news will be warmly welcomed by EV drivers who live in roads without any dedicated off-street parking, as using slow chargers during off-peak hours mean equate to 9.49 pence per mile. In comparison, petrol drivers were paying 12.85 pence per mile despite pump prices falling 3.40 pence per litre in the month.

Elsewhere, flat rate slow and fast charging costs dropped by 1p/kWh, however flat rate rapid charging prices rose by 2p/kWh.

AA EV Recharge Report, June 2024. Flat rates;

AA EV Recharge Report, June 2024. Peak and Off-Peak rates;

Build it and they'll come!

Following the conclusion of the General Election, existing and prospective EV drivers will now turn their attention to what the new Labour Government plan to do to boost the charging infrastructure.

According to their Automotive Strategy², Labour will set binding targets on chargepoint installations before tasking regions and local bodies to deliver the rollout. The last Government had set an ambition of 300,000 publicly available chargers by 2030³.

According to the latest data from the Department for Transport⁴, there are many regions across Northern Ireland, Eastern and Northern England that currently fall within the bottom 20% of councils when it comes to the number of public chargers per 100,000. As part of it's Motoring Manifesto⁵, The AA called for significant action to improve EV charging infrastructure including; equalising VAT in the public realm, ensuring all chargers are fully accessible, and removing red tape which has been slowing down installations. Rectifying these issues could help encourage drivers to swap their petrol and diesel cars to electric.

Jack Cousens, head of roads policy at The AA, said; “The fall in peak and off-peak slow charging prices is excellent news for those EV drivers without any off-street parking. Considering 40% of households don't have their own driveway or parking space, keeping residential charging prices low is vital to help prospective EV owners make the switch.

“During the election campaign, Labour often spoke about their intention to decarbonise the transport sector, especially cars. There is much for the new government to do on the road to decarbonisation, but they can tap into some early wins such as cutting VAT on public charging to reduce prices further, while providing more localised support to build chargers in areas where the infrastructure gap is widening.”

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NOTES TO EDITORS

1. Average prices are the PAYG options without connection fee as at 25 June 2024. Subscriptions are available for all charge point speeds which can unlock a cheaper p/kWh, however rates vary across provider.

Calculations based on adding 80% to a Vauxhall e-Corsa, 50kW, with a WLTP range of 221 miles. Adding 80% range equates to 178 miles of range. Vauxhall e-Corsa specifications here: New_Corsa_PSG_23_May_2024_Library.pdf (vauxhall.co.uk)

Calculations based on Vauxhall Corsa 1.2L (75PS) Petrol with a 40 litre tank. 80% refuel = 32 litres.

Petrol: 32 litres @ 144.60 ppl = £46.27. Combined MPG of 51.4 = 360 miles at 12.85 p/mile.

Vauxhall Corsa specifications here: New_Corsa-CorsaYes_PSG_3_April_2024_Library.pdf (vauxhall.co.uk)

2. WR-797_23-Automotive-strategy-v8.pdf (labour.org.uk)

3. taking-charge-the-electric-vehicle-infrastructure-strategy.pdf (publishing.service.gov.uk)

4. Markdown_map_LocalAuthority_publication_template.knit (dft.gov.uk)

5. aa-motoring-manifesto-2024.pdf (theaacorporate.com)