The AA has published its latest Recharge Report, providing some food for thought on EV charge costs compared to filling up an ICE car.

Lower pump prices have the edge over ultra-rapid charging costs at peak times but not off-peak

Its new data shows that while average ultra-rapid charging costs jumped 3p-4p/kWh at peak and off-peak times in October, they may well have settled down for the moment, having shown no movement in November.

But a 5p fall in average petrol prices, and with further reductions working their way through to the pumps, is now beginning to challenge the cost advantage of EVs out on motorways and main roads.

Certainly, the cost per mile for peak-time ultra-rapid charging is now higher than the rate for petrol: 14.61p versus 14.30p respectively.

However, off-peak ultra-rapid charging averages more than 1.5p a mile cheaper than petrol.

But charging off the driveway or from the kerbside outside homes remains significantly cheaper than fuelling with petrol – despite October’s small increase in flat-rate charging costs for the first time since July. At 6.07p a mile, charging from the domestic supply is well below half the cost-per-mile figure of 14.3p for petrol, based on flat rates.

And slow charging from a lamppost or similar installation works out at more than 4.6p a mile cheaper at off-peak times on average (9.66ppm) or 3p cheaper with the typical flat-rate tariff (11.01ppm).

Looking ahead to 2024, the AA warned that the cost of charging an electric car at home will go up from 1 January, following Ofgem’s announcement that the Energy Price Cap will rise by 5%.

Jack Cousens, head of roads policy for the AA, explained: “Following the recent announcement from Ofgem about the increase in the Energy Price Cap in January, EV drivers may be concerned how prices may fluctuate in the new year.

“Plugging in at home will remain the cheapest way to run an EV, and it’s still cheaper per mile to recharge at the fastest speeds during off-peak hours than filling a petrol car.”

AA EV Recharge Report November 2023 – Flat rates:

AA EV Recharge Report November 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 uses a Vauxhall Corsa 75hp 1.2-litre.