Electric cars can cost hundreds of pounds less per year to charge than filling the same sized petrol car with fuel. We’ve crunched the numbers and here’s what we found.
- Electric car charged on the off-peak tariff of 9p/kWh2 – 2.6p/mile
- Petrol car where petrol is £1.42p/litre1 – 18p/mile
Over the course of a year, you can save £1142. If the electric car (EV) is charged on the day rate tariff of 31p/kWh3, the cost is 9p/mile, the saving is £677.
This assumes a mileage of 7,400 which is the UK annual and the petrol and electric cars are of a similar size. Here we chose a Vauxhall Corsa petrol car and a Kia Niro electric car. The petrol car with a consumption of 36mph (mix of town and country driving) costs £1332 in petrol.
Home charging brings big cost savings. Electricity prices vary depending on which electricity provider and tariff you choose. To get the maximum benefit, select an off-peak tariff and charge overnight.
You will need a smart meter so the supplier can track your usage at different times of the day and charge you the right amount. Compare tariffs on the moneysavingexpert.com website.
Rapid public charging by contrast costs around 10-18p/mile so keep use of this method of topping up to a minimum. There’s an EV chargepoint grant for renters and flat owners, providing funding of up to 75% towards the cost of having an EV chargepoint installed at your home.
Take a look at the EV chargers we offer. We’re here if you want a chat to discuss which one would be best for you. Call 01432 861047.