The new energy price cap in October could make charging an electric vehicle more costly than filling a car up with petrol.
The RAC has issued a warning to motorists that electric vehicles will be pricier to maintain than petrol cars once the new cap comes into effect on October 1.
According to the insurance company, the price of a full charge for an electric vehicle with a 64-kilowatt hour battery will be £33.80 — up from the current cost of £18.37.
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As reported by ExpressOnline, the numbers are representative of the price when using a seven kilowatt charger.
Following the news that the sale of new petrol and diesel cars and vans will be banned in the UK in 2030, there has been a surge in the popularity of electric vehicles.
As revealed by the Society of Motor Manufacturers and Traders, there was a 50 per cent rise in electric car registrations in the first seven months of 2022 compared to 2021.
RAC spokesman Rod Dennis commented: “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% 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 5%, to mirror the rate charged on domestic electricity."
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There will be almost a doubling of the unit cost of electricity under new energy prices, rising from 50p per kWh to 86p. In recent weeks, the price of petrol has decreased — currently standing at £1.70 per litre.
As a result, it will be more expensive to drive long distances in an electric vehicle than a petrol car. According to the RAC, people who own a Jaguar i-PACE electric vehicle will spend £99 more to travel the same distance as a driver of the petrol equivalent.
The driver of the petrol version of the car will be able to drive approximately 400 miles after fully topping up the vehicle with petrol, costing around £50. On the other hand, the electric version would need numerous charges to reach 400 miles — costing £99 more after October.
This also applies to cheaper cars, with Mr Dennis adding: “A full charge of a typical family-sized electric SUV will cost 84% more from October than it does under the current cap.”
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