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Is it time to switch to EVs? Petrol cars now cost five times more to drive each year


This week saw the cost of petrol in the UK break all records once more and Express.co.uk has exclusive figures showing just how much EV owners are saving. Research from GEUK and business data platform Statista shows that while it costs around £60 to fill a family car for 300 miles of driving, the same distance costs just £12 in an electric vehicle (EV).

With the average driver doing around 8,000 miles per year that works out to a staggering £1,280 saving by running an EV.

That also means petrol car owners are spending around five times as much on fuel as their EV owning equivalents.

According to the latest Department for Business, Energy & Industrial Strategy data, average UK electricity prices per kWh were 18.9p for 2021.

With this in mind, it would mean the cost of charging a 60kWh electric car for 200 miles of range would be between £11 and £12.

READ MORE: Number plate changes hit the UK this week

Despite concerns over infrastructure and the higher cost of buying an EV, the figures point to several reasons why the number of EVs bought in the UK rose some 75 percent in the past year.

Retailers have begun installing dedicated ‘charging stations’ for EVs on old petrol station sites and EV buyers currently pay no road tax (VED).

Buyers may also be eligible for a OLEV grant, which contributes up to £1,500 towards the car and £350 towards the purchasing and installation of a home charging point, although this ends in March.

GEUK also put together a list of ways EV owners can save more money.

Top Tips to Save Money on Electric Cars

Charge between 20-80 percent of the battery:
Keeping an EV above 20 percent charge where possible will be beneficial to the longevity of the battery. The first and last 20 percent of power in the battery take longer to charge thus increasing expenditure. Many cars will allow a point to be set to stop charging.

Use a smart charging app or device:
Smart charging apps, and other devices, can help track an EV’s battery charge, when the best and most cost-effective time to charge at home is, and help get insights into the car’s usage. This can help in selecting the best energy tariff to use.

Take advantage of free charging stations:
Charging stations are no longer an uncommon sight around the UK however most are chargeable to use. There are many places like supermarket car parks that offer free charging stations though.

Use Government schemes to install a charger at home:
With the UK Government still trying to encourage people to switch to EVs, there are plenty of incentives to help ease the cost of getting one. For example, there is a scheme in place to help subsidise the cost of installing a home wall-box, which provides rapid charging for your car. There are also grants to help with the cost of the car as well as road tax savings and lease schemes that allow salary sacrifice before tax. Workplaces can also get grants for installing charging points as well as tax breaks on their electricity.

Use Time of Use Tariffs:
Time of Use Tariffs is a great way of making sure the electricity used for charging an EV is significantly cheaper, as well as having the added benefit of being more environmentally friendly. Time of Use Tariffs, such as GEUK’s TIDE Tariff, provide a lower cost of electricity when used at off-peak times.



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Tim Bradley

By Tim Bradley

As seen in: Daily Express, Daily Mirror, MSN UK, HuffPost UK, MyLondon, Competitor Magazine, Fire Engineering, Chicago Athlete Magazine

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