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Charging an EV is still cheaper than fuelling an ICE vehicle, despite rises in energy prices

03 August 2022

The EV charging app Zap Map has released new research in partnership with GoCompare electric vehicle insurance which shows that rising energy prices mean EV drivers will be paying an annual average of £220 more to charge their vehicle this year than in 2021. 

The research found that, as of June 2022, the cost of rapidly charging an EV has risen to 48 pence per kWh from 35 pence per kWh in December 2021. Regular EV charging has also increased to 33 pence per kWh from 24 pence per kWh in the same period.

Of course, EV drivers are still better off than those driving a vehicle with an internal combustion engine (ICE vehicle), with fuel prices costing an average of £1,246 per 8,000 miles compared to a cost of £923 for EV drivers travelling the same distance.

Still, where possible it is important for EV drivers to take the opportunity to make cost savings. This can be achieved by charging your EV at home on a lower-powered unit, if you have the facilities, or using local free-to-use public charge points which are appearing in more and more retail parks, supermarkets and other tourist parking areas.  

COO and co-founder of Zap-Map Melanie Shufflebotham added, "The rising costs of fuel are crippling for many.

"Electric vehicle charging costs are rising as well, but even factoring in charging at the most expensive rapid and ultra-rapid public chargers which are the closest equivalent of fuelling up at a petrol station, you could pay less than two-thirds of the cost. 

"In reality, many EV drivers charge at home for most of their energy needs or charge at less expensive low-powered public chargers over a longer period.

"Electric cars remain a good choice for low running costs during these uncertain times and of course far better in terms of impact on climate change and air quality emissions."

Contract hire, fleet management and EV transition specialists

There are so many reasons to make the switch to an electric vehicle, not the least of which is lower fuel costs. We are always interested to find out the latest news about EVs and EV charging, and we hope that you find the above information useful. 

The team at Marshall Leasing is proud to provide our clients with the incentive and means to transition to EVs. You can find out more about our EV transition services here. 

If you talk to us about how we could help you make the switch, please email us at info@marshall-leasing.co.uk or call 01480 414541. Alternatively, please complete our contact form.  

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