Drivers could have to pay £764 to keep car on road from next week
Millions of drivers will see costs drastically increase as the UK warns of a surge in winter bills. Home charging prices are set to increase from £13.41 to £14.70 and 1 .2 million drivers are set to be impacted by Ofgem decision from October 1.
The new price cap will be £1717 from October 1. Aidan Rushby, founder and CEO of Carmoola said: “Ofgem's price cap has a very real effect on the lives of households across the UK, especially as we approach winter and energy consumption rises."
Mr Rushby added: “To save money, we'd suggest that EV drivers aim to charge their cars at home whenever possible and explore whether their energy providers offer off-peak tariffs to help reduce charging costs by topping up at these cheaper times."
READ MORE NS&I urges customers to fill out crucial document or risk losing Premium Bonds
For EV owners, the average cost to fully charge a 60kWh battery at home will increase from £13.41 to £14.70. Hybrid vehicle owners will also feel the pinch, with charging costs rising from £3.13 to £3.43 per full charge.
It means a driver charging up once a week will pay £764. Carmoola explains: "How much it will cost you to fully charge your electric car will vary according to where you charge it. It can also depend on the make and model of your EV, but in any case, your electric car will most likely cost you less to run than a fuel engine. Additionally, electric batteries need much less maintenance compared to your old car."
It adds: "Also bear in mind that there are many government schemes, grants, and incentives that could help make the difference between a cost too high and a cost just right, for your new EV. You could also be exempted from Fuel Duty and get tax benefits as well as not having to pay congestion charges."