On Monday, in Jeremy Hunt’s first speech as the new Chancellor, he announced that the Energy Price Guarantee would only last for six months and not two years. As millions around the UK struggle with their energy bills and the ongoing cost of living crisis, one expert analysed what this would mean for electric car drivers.
Matthew Walters, Head of Consultancy Services at LeasePlan UK, reacted to the Chancellor’s first statement and what it would mean for drivers.
He said: “The Energy Price Guarantee had been one of the key policies announced at the start of Prime Minister Liz Truss’ premiership.
“Importantly, this would have fixed the cost of home electricity at 34p/kWh until October 2022 and offered some certainty for electric vehicle drivers.
“Despite being one of the most expensive policies confirmed during September’s Mini Budget, the cost of charging at home has almost doubled during the last 12 months and was set to rise again in January.
READ MORE: Some electric vehicles ‘already 25 percent cheaper than diesel’
Mr Walters added: “Businesses will also be eagerly awaiting the details of future support for energy prices.
“They are not protected by the Ofgem price cap and are dealing with spiralling operating costs, with limited details about how the current support system would protect them from further increases.
“This includes public chargepoint operators, and we have seen prices reaching £1 per kWh for some networks in recent weeks.
“That is a significant cost for fleets who depend on this infrastructure, but also for drivers without off-street parking.”
READ MORE: Police using new AI cameras to catch drivers using their phones
Many drivers have called on the Government to do more to protect those who cannot charge their cars at home and rely on the public network.
Data from the Department for Transport showed there was a 37 percent rise in the use of public EV chargers in 2021.
At the end of September 2022, there were 348,60 electric vehicle charging points across the UK, across 20,888 charging locations.
This represents a 35 percent increase in the number of charging devices since September 2021.
The UK Government, among others, have been keen to promote electric vehicles to the public with frequent spending boosts for EV charge points,
Most recently, the German Government approved a plan to spend €6.3billion (£5.5billion) over three years to rapidly scale up the number of EV chargers.
This would represent a 14-fold increase in the number of charging stations, bringing the number from 70,000 now to one million by 2030.
By 2030, there are hopes to have 15 million electric vehicles on German roads, 10 times more than the current rate.
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