Ultra-rapid charging costs fell again in March, further reducing running costs for fleet and private EV drivers charging on the road.

The cost of off-peak ultra-rapid charging has dropped by 15.6% since January Image credit: Gridserve

The latest AA EV Recharge Report reveals a 15.6% reduction in off-peak ultra-rapid charging since the start of the year, falling from 71p/kWh in January to 64p/kWh in March. It means electric cars using the fastest chargers off-peak are cheaper to ‘fuel’ than a petrol car for the second consecutive month.

The data also shows that flat-rate slow charging fell by 2p/kWh in March compared to February, closing the gap between driveway and kerbside costs. The rate for such chargers, which are traditionally found in residential areas where there is no dedicated off-street parking, was just 1p above the Energy Price Guarantee for domestic electricity costs (35 p/kWh Vs 34 p/kWh).

The report does reveal a rise in flat-rate rapid charging costs between February and March, increasing by 1p/kWh to 67p/kWh. Elsewhere, all other flat-rate costs, peak and off-peak prices remained static, providing more stability to drivers when it comes to ‘refuelling’ their cars.

The AA, a key partner at next week’s Great British Fleet Event, said falling charging costs would help increase confidence in EVs – but it’s also calling for ‘help to buy’ schemes to encourage further uptake of electric cars.

In a poll of more than 14,500 drivers, seven out of 10 said being eligible to obtain some form of benefit to buy either new or used EVs would help them make the switch.

The most popular option was mirroring the recently closed Electric Vehicle Loan scheme run in Scotland where drivers can buy an EV with a 0% loan over three to five years.

Other popular incentives included scrapping VAT on the sale of new EVs, reinstating the £3,500 Plug-in Car Grant and introducing schemes to help buy used EVs. Low-income drivers would be most persuaded by either a 0% loan or a grant to purchase used EVs.

Jack Cousens, head of roads policy said: “With more drivers wanting to take advantage of greener and cheaper travel, now is the time to offer ‘help to buy’ schemes to accelerate the uptake of electric cars.

“The appetite is there, but EVs feel out of reach to many. The fact that drivers are interested in buying a used EV shows that fears and concerns over battery life and longevity are beginning to fall away.

“This could be the perfect time to energise the EV market.”

AA EV Recharge Report, March 2023. Flat rates;

AA EV Recharge Report, March 2023. Peak and Off-Peak rates;

Charging calculations are based on adding 80% to a Vauxhall Corsa Electric, 50kW, with a WLTP range of 222 miles, while the petrol comparison is with a Vauxhall Corsa 75hp 1.2-litre