Running an electric car is cheaper than a fossil fuel vehicle, even if the driver is relying on the public charging network, new data has found.
Fresh research shows that drivers could pay just £694 to charge their electric car at a public charging station for a year, compared to the £760 spent on filling up a petrol vehicle.
A new subscription tariff introduced by Be.EV, and backed by Octopus, reduces the annual cost of public charging at any time of the day to just £694.
All electric vehicle owners can make use of the off-peak ultra-rapid charging rate of 39p/kWh without a subscription.
The new 39p/kWh rate applies to all chargers regardless of the speed or time of day, which could provide a major boost to the 3.9 million households without access to a driveway.
Previous data suggested that it costs £545 more per year to run an electric vehicle purely using rapid EV chargers, at a total annual cost of £1,119.
This could provide a massive boost to the UK’s second city of Birmingham, where 37 per cent of households do not have access to a driveway.
Estimates suggest that 162,256 households will now be able to access charging that is cheaper than a petrol or diesel car owner filling up.
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Drivers can now operate an electric car for less than a petrol vehicle, even when using a public charger
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Other major cities with a high proportion of people living without a driveway are also set to benefit, including Leeds (114,919), Manchester (99,379) and Sheffield (96,853).
Asif Ghafoor, CEO at Be.EV, said: “It has been a sticking point that the cost benefits of EV ownership should only be available to those with a driveway, so we’re pleased to mark this tipping point by bringing 3.7 million more households into the fold.
“The gap between ‘have-drives and have-nots’ has long been a drag on EV uptake but is finally closing thanks to our market-leading subscription tariff.”
Mr Ghafoor described it as a “new phase of EV uptake”, with drivers given the confidence to switch to an electric car, even if they don’t have access to a driveway charger.
He added that “it finally makes financial sense for millions” of drivers to buy an electric car, as opposed to a “dirty” fossil fuel car.
The new subscription model from Be.EV, known as The Mega, will cost £9.99 and enable drivers to charge for 39p/kWh across the company’s network of EV chargers.
The latest data from Zapmap shows that there are 86,798 public EV chargers across the UK, with 777 net new charging devices added in October.
Motorists are able to make use of more than 44,000 charging locations around the country, while there were 3.1 million successful charging sessions on the public network last month.
There are almost 87,000 public electric vehicle charging points across the UK
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GETTYCharger installations are expected to grow in the coming months, with local authorities making use of Local Electric Vehicle Infrastructure (LEVI) funding, including Bolton Council and the West Yorkshire Combined Authority.
The Government has also pledged £10million to businesses that can introduce new charging solutions, which could include chargers that run off-grid.
Mr Ghafoor concluded, saying: “Our offer is simple: a £9.99 a month subscription gets you access to our whole network, anytime of day, any type of charger. A bit like a railcard, the subscription cost is immediately offset by the savings.
“If you’re on a subscription detox after too many streaming services, grab an ultra-rapid charge after 7pm with the Be.EV app for the same great 39p/kWh price. Affordable charging for every driver is here.”