Cost of charging electric car: UK private and public prices

Petrol and diesel prices rose by 16.59p in June 2022. With the price of living rising across the board, there is a significant increase in the amount businesses are spending on fuel compared to the start of the year.

Although the cost of living has increased, the government's Net Zero strategy has not slowed down. The banning the sale of petrol and diesel-only cars and vans is still set to become law in 2030. So, while upfront costs for electric vehicles and chargers may seem considerable, they can help your business save money while generating a profit (see here for other purchasing methods you can use for your business).

When discussing EV chargers for your business, one question key stakeholders in your business will ask you is ‘how much does it cost to charge a car and how much could we save?’

To help you build a business case, we’ve broken down how much it costs to charge a car at work, at public charge points, and rapid chargers.

How much does it cost to charge a car? How much could I save?

The amount you spend on charging a car is dependent on three key variables: the size of the battery, the charger you’re using, and the time you’re charging. Your business can still save a significant amount of money by charging vehicles instead of filling them with fuel.

For example, you have a petrol car with a 40-litre tank. If petrol is £1.80 per litre, the cost to refuel is £72.00.

With electric vehicles, the tank size is the measurement of energy it can store. The largest battery size on the market is a 100d. 100 represents the number of kWh it can hold.

You can work out how much it would cost you to charge your fleet with the following equation:

[Price per kWh] x [Battery size] = £ cost

So, if you’re charging a 100d battery in a 7.3kW charger, the equation would be:

£0.19 x 100 = £19.00

In this scenario, you would save £53.00.

Want to get your EVs on the road but don’t have the budget? Grants can save your business up to £14,000. Find out more in our free download ‘The Complete Guide to Commercial EV Funding’.

Cost of charging an electric car at work

With employees typically on site for 6-8 hours while at work, long chargers can help recharge your employee vehicles at a minimal cost for your business.

Organisations have three choices when offering electric vehicles for staff:

Free vehicle charging. This can be beneficial for businesses that park both fleet and private vehicles in their car park. Free EV charging can then be used as a staff incentive.
Set tariffs. If the price is competitive to other charging points in the area, this could help your organisation make a profit from staff charging their vehicles.
Time-based tariffs. This can encourage employees to leave spaces once their vehicle is charged, helping more people charge their vehicles and continue to profit from your EV chargers.

In all cases, offering free or discounted rates can work as incentives for members of staff.

Cost to charge an electric car at public charge points

Depending on your industry, you may have a publicly accessible car park or customers visiting your premises. EV chargers in this use case can help you draw in and profit from customers with electric vehicles, even if they don’t buy anything.

Similarly to private business chargers, businesses can either make their charging points free-to-use or set a tariff.

Publicly accessible EV chargers offers great advertisement for your business, as once registered, your car park will appear on free-to-download charge point apps. Once your charger is installed, it can immediately begin making money for your business.

The future is electric. Future proof your business, draw in customers & employees, sand save money on commercial EV chargers with available government grants.

Cost to charge an electric car at rapid chargers

Rapid chargers charge vehicles by sending a direct current straight to the battery at a higher voltage. This means your battery will charge within 15-30 minutes depending on the size.

Based on your chosen vehicle, rapid chargers will either be freely available or have a high price point to charge. For example, Tesla owners can use free supercharge stations across the UK. For non-tesla owners, rapid chargers cost 44p/kWh, which is approximately £11 for 30 minutes of charging*.

Depending on the intended use, rapid car chargers can help to save money while generating a profit for your business. However, rapid chargers are best suited for businesses with a large fleet, such as taxi companies or other public passenger transportation services.

Minimise the cost of charging electric cars and stations in the UK

It’s crucial for businesses to future-proof their fleet now. While the initial cost may seem steep, buying electric vehicle charging stations now will ultimately cost you less in the long run.

Not only will the price you’ll save on fuel help to reduce the cost of your fleet, government grants are also helping to minimise the initial costs of electric car chargers for businesses across the UK.

While the cost of charging an electric car in the UK may change due to inflation, the need for EVs will not fluctuate.

* Price correct as of April 2022.