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Real-world EV costs

EV charging payment specialist Mina has launched a new quarterly report, which for the first time will provide real-world data on EV costs

Analysis of 32,500 home and public charges in the first Mina EV Report – Summer 22 (June to August) shows a big rise in real-world home charging costs, with the average cost of home charging over the summer up more than 30% at 26 pence per kilowatt hour (p per kWh).

The average pence per mile (ppm) cost for an EV charged at home was 7ppm for cars and 10ppm for vans – double that of the Government’s Advisory Electricity Rate (AER) of 5ppm. In nine out of 10 charges, drivers would be out pocket if they reclaimed costs based on the AER.

Mina_Summer22

The average cost of public charging was 56p per kWh – a rise of 19% over the previous year – although there was a big variation in public charging tariffs, from the cheapest at 30p per kWh to the most expensive at 277p per kWh.

Mina CEO Ashley Tate said: “At Mina, our technology monitors every single charge, and every piece of associated data from the moment a car or van is plugged in. We know every tariff, at home and in public and how much it costs for every kWh. We believe this quarterly report will provide a benchmark for the entire EV sector.”

The report also shows that on average EV drivers only spend around three-quarters of an hour charging in public, generally taking on around 90-100 miles of charge.

Mina’s payment solution for EV charging allows fleet and business EVs to be charged at the employee’s home, work and on the road, with a single monthly invoice for the business. Mina Homecharge pays the employee’s energy supplier for the cost of charging their company EV at home, while the Mina Chargepass RFID card enables employees to charge at thousands of public charge points across the UK, including all charge points within the Allstar and InstaVolt networks.

https://ev.mina.co.uk/mina-ev-report-summer-2022

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