Drivers charging at home on electric vehicle (EV) tariff save just over 56 percent compared to petrol or diesel per-mile costs. They are nearly a quarter cheaper (24 percent) for those who charge at home on a standard energy tariff.
The data, from New Automotive, found that electric vehicles are now more than half as cheap to run than a petrol or diesel vehicle when charged at home on a dedicated EV energy tariff.
The organisation has launched a fuel cost tracker to measure car running costs.
It found that home-charged electric cars can be more than half as cheap as petrol and diesel.
It converts the latest available energy prices into a cost-per-mile figure and compares the difference in running costs between fuel types in an interactive chart.
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“At a time of fluctuating energy prices, many have wondered whether EVs are still cheaper to run, and we’ve seen myths around the changing cost of running EVs putting people off making the switch.
“Our new Fuel-Cost Tracker tool will bring clarity for motorists, analysts and policymakers by providing an authoritative and up-to-date way to monitor how running costs are changing over time.
“A key finding of our analysis is that the Government’s new energy price cap means that EVs are still cheaper to run than polluting diesel or petrol cars.
“Fluctuating energy prices and the cost of living crisis means the savings EVs offer have never been more important for British motorists.”
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Commenting on the campaign, Mr Nelmes said: “Motorists who rely on public charging also save compared to petrol and diesel drivers, but the higher cost of charging using the public network means that they do not currently enjoy the full extent of the savings EVs offer.”
“These savings should be available to all EV drivers, not just those who can charge at home.
“To ensure this is the case, the Chancellor should cut the rate of VAT on public charge points from 20 percent to five percent.
“Additionally, regulations to improve pricing transparency around public charging should be fast tracked, so that consumers can shop around and find the best deal when they need to charge.”
According to Zap-Map, there were 34,860 electric vehicle charging points across the UK at the end of September.
This represents a 35 percent increase in the number of charging devices since September 2021.
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