Urgent warning issued to EV owners as energy price cap rises – More expensive than petrol

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The RAC has warned motorists across the UK that EVs will be more expensive to run than petrol equivalents from October. It added that the cost of a full charge at home for an EV with a 64-kilowatt hour battery – such as a Kia e-Niro – will be £33.80 under the new cap which comes into force on October 1.

That is compared with £18.37 under the current cap and £13.69 for last winter’s price limit.

The figures represent the cost when using a seven-kilowatt charger.

EVs have soared in popularity in recent months, ahead of the ban on sales of new petrol and diesel cars and vans in the UK from 2030.

Figures from the Society of Motor Manufacturers and Traders show there was a 50 percent increase in registrations of pure electric cars during the first seven months of the year compared with the same period in 2021.

RAC spokesman Rod Dennis said: “The impact of the energy price cap increase will certainly be felt by drivers who charge their electric cars at home, with a full charge of a typical family-sized electric SUV costing 84 percent more from October 1 than it does under the current cap.

“Despite recent falls in the price of petrol and diesel, the cost of charging at home is still good value compared to paying for either fuel, but again underlines just how the rising cost of electricity is affecting so many areas of people’s lives.

“We’re also aware that public chargepoint operators are having no choice but to increase their prices to reflect the rising wholesale costs they’re faced with, which will heavily impact drivers who have no choice other than to charge up away from home.

“The RAC continues to support the FairCharge’s campaign for the Government to cut the VAT rate levied on electricity from public charge points to five percent, to mirror the rate charged on domestic electricity.”

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The unit cost of electricity will nearly double under the new energy prices released this week, taking it to 86p per kWh, up from 56p.

Petrol prices have fallen in recent weeks and stand at £1.70 per litre, in comparison.

This, in turn, means that it will cost more to travel long distances in an EV compared with a petrol car.

According to the RAC, owners of Jaguars i-PACE, an electric SUV, would spend £99 more to travel the same distance as a driver in the petrol equivalent.

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The petrol version can travel around 400 miles on a full tank of petrol, which would cost around £50.

The electric model only has a range of 290 miles and would need multiple charges to travel 400 miles – this would cost £99 more after October’s electricity price hike.

The same is true for cheaper models. A Kia e-Niro owner would have to spend £88 more than a Kia Sportage driver to travel the same distance.

The e-Niro will cost £33.80 to fully charge from October compared to £18.37 at the moment, RAC estimations showed.

Mr Dennis said those who charged their cars at home would really feel the impact of October’s energy price rise.

He added: “A full charge of a typical family-sized electric SUV will cost 84 percent more from October than it does under the current cap.”

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