Back
The impacts of Ukraine and energy price cap and grant changes...
Jeremy Coulter
Jeremy Coulter
Email

Rising costs for EV drivers...

So much has happened in the last 28 days... Here in the UK, the impact of Russian aggression is having a real impact in the EV world. The recent energy crisis will undoubtedly get worse as a result of the war.
Opinion & News 1 March 2022

February is the shortest month on the calendar and yet so much happened in those short 28 days. Principally, Russia’s invasion of Ukraine has quickly dominated the minds of leaders and businesses plus shocked people globally. Our thoughts are with all Ukrainians at this time.

Here in the UK, the impact of Russian aggression is having a real impact in the EV world. The recent energy crisis will undoubtedly get worse as a result of the war. In the last month, rapid charging network Instavolt raised its pricing for public chargers (again) and industry voices, like Octopus and the RAC, warned costs for EV drivers could increase by £200 annually come April - when the energy cap will be lifted, meaning companies can charge more for electricity.

It’s not all gloomy, though. Yet again in February battery electrics continue to be a shining light in the motoring sector. According to SMMT, 1 in 11 cars made in Britain are now pure EVs - that’s an increase of a third on 2021. Also this month, we heard that the government expects to reveal a new chargepoint strategy aimed at improving the experience for EV owners - hopefully, this will be published soon.

Given all of this, March will undoubtedly be a crucial month for electric motoring. It will not only see the home charger grant end in earnest (meaning costs for installations may rise), but the new rulebook for infrastructure and a continued energy squeeze. This will likely lead to many companies innovating in order to cut costs for consumers and to stay ahead in this crazy market. It's notable that February saw the launch of Britain's first chargepoint subscription scheme, aimed at making them affordable.

While up to this point, the focus has been on selling the idea of EV’s to people with grants and government backing. From now, owners and businesses will have to start getting used to operating with less support. The good news is that clean travel will undoubtedly continue to see demand grow from all corners of the country, not least given the current eye-watering price of petrol.

Sign up for monthly news of Bookmycharge platform and community updates, plus our quick take on EV news highlights and links
© Bookmycharge Limited, 2021. All rights reserved.
Website by Bookmycharge Ltd