The cost of flat-rate charging on the public network fell by up to 8% in January, but the arrival of more expensive peak rates could prove an issue.

The data shows charging costs have fallen faster than pump prices

The AA’s latest EV Recharge Report shows the cost of public slow charging, typically carried out on lamppost chargers, dropped 8% as electricity prices fell, mirroring the cost of domestic charging. At the same time, fast and rapid flat rates fell by 3% compared to December.

Jack Cousens, head of roads policy & EV charging, said the speed at which the prices had fallen was encouraging and “hopefully means the ‘rocket and feather’ approach to wholesale costs experienced in petrol prices won’t be adopted by charge point operators”.

But the AA data also showed more providers across all speeds have now introduced peak and off-peak rates. Peak rates across all speeds exceed 70p/kWh, with fast and rapid peak rates the most expensive on the market at 75p/kWh.

Cousens added: “We believe Ofgem needs to keep a watchful eye on peak rate costs to ensure they don’t escalate to the point where it puts drivers off using them. Whilst we understand the reasons why peak rates exist, the price needs to be reasonable in relation to the speed of charge.”

It’s also highlighted that all providers determine their peak times differently and says EV drivers should check the costs prior to plugging in.

The AA data also reveals that charging costs in January fell faster than pump prices; petrol pump prices in the same period fell 1.7%. Its analysis of running a petrol Vauxhall Corsa calculates a 14.21 pence per mile (p/mile) cost, which comes out cheaper than recharging a Vauxhall Corsa-e exclusively on peak rate charge or flat rate rapid and ultra-rapid chargers. But most drivers will only use rapid charging as a top-up on long journeys or peak charging rates if there are few alternatives – and off-peak charging costs across the board work out lower.

Tanya Sinclair, senior director, policy, Europe at ChargePoint, also said that DC fast charging was only a small part of the equation in EV charging.

“Most of the time people charge their vehicles from home or work, which is much more cost effective than DC fast charging. What’s more, workplaces that offer charging often choose to do so at a discount or for free for employees, in order to encourage EV uptake or electrify their fleets. Charging management software and smart charging capabilities enable this, by helping to keep infrastructure costs down, provide value for money and run smarter services.”

AA EV Recharge Report (Flat Rates) – January 2023 (All PAYG prices not including connection fees where applicable)

AA EV Recharge Report (Peak/Off-Peak Rates) – January 2023 (All PAYG prices not including connection fees where applicable)

Charging pence-per-kWh and pence-per-mile calculations are based on adding 80% to a Vauxhall e-Corsa, 50kW, with a WLTP range of 222 miles.

Pence-per-mile ICE costs are based on a Vauxhall Corsa 1.2-litre (75hp) petrol with a 40-litre tank.