Electric car charging operators quitting certain UK markets forces prices down for motorists

The report notes that a major chargepoint operator quit a certain aspect of the UK market, and since it was one of the more expensive operators, prices have dropped drastically.

The operator no longer manages any devices delivering speeds between 50kW and 149kW, slashing the price of fast chargers in the process.

The average price per kWh fell from 87p in July to just 50p, with drivers paying an average of £20 to add 80 per cent charge.

Electric vehicle drivers travelling across the UK have also enjoyed a fall in price of five pence per kilowatt hour.

The latest data also comes as the Competition and Markets Authority (CMA) released its road fuel market update, which found that petrol and diesel prices were continuing to rise.

On average, petrol drivers saw costs increase by almost two pence per litre between May and August, while diesel jumped by 3.5p.

READ MORE: Petrol and diesel drivers ripped off at filling stations as fuel prices remain 'far above' historic levels

This now means that average off-peak ultra-rapid charging is more than 2.5p cheaper per mile than petrol.

Jack Cousens, head of roads policy at The AA, said: "The actions of one operator have made a massive difference to the price of charging, and in a positive way for EV owners.

"By removing themselves from the 'fast' market, they have delivered a 37p/kWh saving to EV drivers using these devices.

"But that's not all, a targeted drop in off-peak ultra-rapid charging during the summer holidays meant that EV drivers were saving more than they expected."

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The Zapmap database shows that there are 85,163 public charging devices across the UK at almost 43,000 different locations.

Over the last year, the public charging network has grown by 25 per cent, with many experts hoping that the UK will install 300,000 chargers by the end of the decade.

The AA's UK EV Readiness Index stated that one of the largest barriers to EV adoption for motorists was the cost of using a public charger.

The Chancellor has continually been urged to slash the rate of VAT on public chargers to reduce it from 20 per cent to just five per cent and match the rate attributed to home chargers.

A recent report from Charge UK also found that chargepoint operators were facing huge costs, which impact the savings they can pass on to customers.

There has been a 79 per cent increase in energy bills since 2021, while standing charges have also increased dramatically.

Mr Cousens added: "The cost of using the public network is still a sore subject for those thinking about making the switch, particularly if they don't have dedicated off-street parking. Letting the Government know about the high costs operators are up against is key, especially with the Budget due in November.

"With the right interventions, prices could be even cheaper and make the case for EVs even more compelling. Matching domestic VAT is just the tip of the iceberg, action on standing charges and extending levy exemptions would help keep charging costs down."