Ultra-rapid charge point operators are switching towards offering peak and off-peak tariffs, enabling drivers using services at night to benefit from “cheap as chips” charging. 

EV charge point operators are pivoting to peak and off-peak rates

A few companies announced changes to their business model in September to provide EV charging flexible rates, rather than a fee applied 24/7. And the AA’s EV Recharge Report for last month shows the move has drastically altered the picture for charging prices, with ultra-rapid peak rate costs increasing by 8p/kWh, while off-peak rapid charging fell by 10p/kWh.

Jack Cousens, head of roads policy for the AA, said: “While each company differs when off-peak rates come into play, it seems fairly uniform that unsocial hours trigger the best value for charging at high speeds.

“If drivers are willing to watch the 10 o’clock news in their car, then rapid charging can be as cheap as chips.”

Prices at most flat-rate chargers are also down, falling by up to 2p/kWh, although flat-rate fast charging rose by 3p/kWh.

September also saw the price of fuel fall considerably to 135.20 pence per litre. However, domestic charging, all forms of slow charging and off-peak ultra-rapid charging still offer cheaper motoring on a pence-per-mile basis compared to petrol (12.02p/mile).

The AA has also called for EV infrastructure investment and VAT parity in tomorrow’s Budget.

The motoring services specialist said reducing VAT from 20% to 5% would level the playing field for the 40% of households without dedicated off-street parking, and help drivers make further savings.

The AA also wants to see the right speed of charge in the right place. While there is considerable focus on delivering rapid and ultra-rapid chargers, the AA would like to see more neighbourhood charging schemes such as street lamp upgrades, community charging hubs and investment in rural areas.

Jack Cousens added: “One of the main reasons drivers remain hesitant to making the switch to EVs is their perception that there are not enough public chargers. Both the Prime Minister and Chancellor have called on investment to help boost the economy. A sure-fire way to help the economy, provide jobs and futureproof personal transport is to invest in the EV sector.”

AA EV Recharge Report September 2024 – Flat Rates 

AA EV Recharge Report September 2024 – Peak and Off-Peak Rates 

 Average prices are the PAYG options without connection fee as of 24 September 2024. Subscriptions are available for all charge point speeds which can unlock a cheaper p/kWh, however rates vary across provider. 

Calculations are based on adding 80% to a Vauxhall e-Corsa, 50kW, with a WLTP range of 221 miles, equivalent to 178 miles of range.

Fuel calculations are based on Vauxhall Corsa 75hp 1.2-litre petrol with a 40-litre tank and a combined low mpg of 51.4mpg. An 80% refuel equates to 32 litres, priced at 135.20ppl.