AER shortfall highlighted by Mina’s real-world charging cost data

The majority of company electric vehicle (EV) drivers are out of pocket if they reclaim charging costs using the Government’s Advisory Electricity Rate (AER), new data shows.

Mina has published its first report on the real-world costs of charging an EV, based on more data from businesses running vans and company cars.

The ‘Mina EV Report - Summer 22’, looking at the June-August 22 quarter, highlights costs, trends and behaviours from more than 32,500 charging sessions.

It shows the average pence per mile (ppm) cost for an electric van if charged at home is 10ppm – double that of the Government’s Advisory Electricity Rate (AER) of 5ppm, while cars charged at home cost 7ppm on average.

The report also found that nine out of ten charges resulted in car and van drivers being out of pocket if they’d reclaimed costs using the AER.

Fleet industry bodies, including the AFP and BVRLA are pressuring the Government to increase the AER to at least 10p per mile, as the cost of charging is expected to rise further this winter.

Mina’s report found that the average cost of charging at home has risen by 30% in the past year and public charging costs have soared by 19% in the same period.

The cost of charging an EV at home, on a standard variable tariff, is set to increase by a further 20% this winter. Public charge point operators are also been ramping up their fees, with prices up by 13p/kWh, on average, since May.

Mina CEO Ashley Tate said: “There’s a lot of discussion about the real cost of charging EVs, but much of it is entirely theoretical, and based on lots of assumptions and ‘what-ifs’. At Mina, our technology monitors every single charge, and every piece of associated data from the moment a car or van is plugged in, so we know exactly what is going on in the real world, the second it happens.

“We know every tariff, at home and in public, we can see how green that electricity is, the carbon impact in real time of every kWh and how much it costs for every kWh. This is transformative, because from this you can build a picture of real-life costs, which is so important as the energy crisis unfolds, and also begin to understand behaviour and trends.

“As an example, I think many will be surprised at just how little time drivers who can charge at home actually spend charging in public. This will inform strategy in future, not just for businesses looking at costs and productivity, but for networks and authorities rolling out chargers and assessing demand.

“We believe this quarterly report will provide a benchmark for the entire EV sector, businesses and drivers.”

To download a copy of Mina’s EV Report - Summer 22, click here

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