Fastest electric vehicle charging speed ‘cheaper than petrol’

Off-peak rates on ultra-rapid chargers, offering the fastest speeds to charge an electric vehicle (EV), remain cheaper per mile compared to petrol, according to the AA.

Despite pump prices falling dramatically over recent months – RAC data showed that the average price of petrol had fallen to its lowest for more than two years in December – the AA says it costs 12.81 pence per mile (ppm) to use an ultra-rapid charger during off-peak hours compared to 13.54ppm for a comparative petrol car.

Meanwhile, flat rate charging costs, where the rate is the same all day long, rose by as much as 3p/kWh, according to the latest AA EV Recharge Report.

December 2023, flat rates

Source: AA EV Recharge Report

December 2023, peak and off-peak rates

Source: AA EV Recharge Report

Over the past 12 months, the level of fluctuation on public charging rates has been fairly muted, and when compared to the rocket and feather approach to pump pricing looks static.

2023 flat rate tracker

2023 peak and off-peak rate tracker

Jack Cousens, head of roads policy for the AA, said: “Throughout 2023 EV charging costs have offered good value for money while operators have tried their hardest to defer or delay any price increases.

“Even when there have been rises, operators have kept increases minimal. Where possible they have reduced costs quickly so the price paid at the charger fairly reflects the cost of energy.

“We are expecting a boom in charging infrastructure installations in 2024. Not only will this counter the unfounded fears of running out of charge, it will also build stronger competition within the market as operators will battle it out amongst the ever growing EV car parc.”