Retail fuels in brief: how are rising electricity costs impacting EV drivers? Report

Insight 13 September 2022

Get this report*

$900

You can pay by card or invoice

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*Please note that this report only includes an Excel data file if this is indicated in "What's included" below

Report summary

The UK is to increase electricity prices from October in line with the increase in wholesale gas prices caused by the Russian invasion of Ukraine and its subsequent impact on the industry. The price cap sets a maximum per unit price on energy that reflects its cost on the wholesale market. As a result, unit electricity prices will rise from £0.28 per kWh to £0.34 per kWh. How will this impact electric vehicle drivers and will EVs become more expensive to drive than internal combustion engine (ICE) equivalents?

The cost per mile to drive an electric vehicle edges closer to the gasoline equivalent
Electric vehicle charging prices will be even higher at public charge points
Conclusion