As a result of the recent price cap hike, electric vehicles will cost more to operate than their petrol counterparts starting in October.
New energy prices yesterday nearly double the unit cost of electricity, taking it up to 86p/kWh from 56p. In comparison, petrol prices have dropped in recent weeks to £1.70 per Litre.
It will be more expensive to drive long distances in an electrical car than in a petrol vehicle, even before you consider higher prices for greener vehicles.
According to calculations made by the RAC, the Jaguars iPACE, an electric SUV owner, would pay £99 more to cover the same distance as a Jaguar f-PACE driver.
The Petrol version can travel approximately 400 miles with a full tank of petrol. This would cost about £50. The electric version has a range of only 290 miles and will require multiple charges to travel the same distance. This would be £99 more after the October electricity price hike.
This is also true for lower-end models. To travel the same distance, a Kia e-Niro driver would need to spend £88 less than a Kia Sportage owner.
According to RAC estimates, the e-Niro will be fully charged at £33.80 starting in October, compared to £18.37 currently.
Rod Dennis, a representative of the firm, stated that people who charge their cars at home will feel the effects of October’s energy price hike.
He said that a full charge for a typical family-sized, electric SUV would cost 84% more starting in October than under the current cap. The public charge points are forced to raise prices in order to cover rising wholesale costs. This will have a significant impact on drivers.
With special EV tariffs offered by some energy companies, electric vehicle drivers can get discounted electricity rates for charging at home. The initial cost of electric vehicles is still much higher than its petrol counterparts.
According to CarWow comparison site CarWow the cheapest MG ZS is sold for just £16,795, while the MG ZS EV electric version costs about £30,000.
The rising demand for electric cars, combined with a shortage of vital technology, has led to higher prices. The Society of Motor Manufacturers and Traders revealed that there was a 50% increase in electric car registrations in the first seven months of this year compared to the same period in 2021.
The upfront cost of the Honda-e has risen dramatically as a result. According to electrifying.com, the Honda-e is 30% more expensive than last year.
In the past two months, the price for its iX model has risen by more than £7,400 to £77,305.
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