Electric car chargepoint operator Osprey ups rates to a record £1 per kWh making it pricier than fuelling a petrol model… and rivals could follow suit

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  • Osprey Charging has increased the cost of using its fast devices by more than 50% due to rising wholesale prices.
  • Charging rates have risen from 66p/kWh to £1 – meaning every charge on a family electric car will rise to around £40.
  • Wholesale electricity prices continue to rise, he said, and the company is in a “difficult position.”
  • Is an electric car cheaper to run than gasoline? We calculated the number of charges at home, through the public network and average fuel bills.

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The nation breathed a sigh of collective relief earlier this month when new Prime Minister Liz Truss announced an unprecedented £150bn energy support package that would freeze typical annual domestic electricity bills at £2,500 for two years.

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The news will be welcomed by EV owners who charge their cars at home as they are now guaranteed lower operating costs than if Ofgem’s energy price cap were introduced from next month.

However, EV drivers without off-street parking and a home charger are already seeing the cost of charging their EV batteries skyrocket, with one provider increasing the cost of connecting to their network by more than 50 percent, driving up annual operating costs. more expensive than a similar petrol model.

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Could charging an electric car now be more expensive than filling up with a petrol alternative? The rising cost of accessing public chargers means owners of electric vehicles without off-street parking are forced to pay higher amounts to charge their car’s battery.

With little clarification regarding the energy support package for businesses until this week, public charging network operators have already begun to pass on rising wholesale electricity prices to their customers.

Last week, leading provider Osprey Charging announced that it had increased the cost of accessing its network of fast devices by more than 50%, with tariffs rising from 66p to a record £1 per kWh.

This is the second increase in eight weeks and means that charging a midsize electric family hatchback from 10 to 80 percent of battery capacity will cost around £40 – up from £16 a year ago.

In an email sent to customers, Osprey CEO Ian Johnston confirmed that the cost of using his devices will increase from Thursday, September 15th.

Ian Johnston, CEO of Osprey Charging, says the business is currently in the process of reviewing the cost of charging since the announcement of the electricity bill assistance scheme.

Ian Johnston, CEO of Osprey Charging, says the business is currently in the process of reviewing the cost of charging since the announcement of the electricity bill assistance scheme.

He said the lack of immediate help from the government forced the company to forgo a wholesale price increase, which more than doubled the cost of charging a family electric car on one of its devices compared to last year.

Its website states: “We offer a simple flat rate on our UK network of £1 per kWh.” It has over 300 charging stations across the UK, located on major transport routes, in malls, restaurants and on the streets.

While Liz Truss’s multibillion-pound energy plan has always promised business support, no details or timeline for its availability have been released, which Johnston said put him and the company in a “difficult position”.

However, the Prime Minister’s announcement on Wednesday (September 21) that a new electricity bill benefit scheme would provide a discount on wholesale costs for all non-residential customers from October to March next year has since prompted Ofsprey to rethink its structure. pricing.

Mr. Johnston told customers: “We welcome the government’s announcement of the Electricity Bill Assistance Scheme this morning.

“We will clarify support with our energy supplier. Although the wholesale price of energy is limited, we also need to set the final price that we will charge. This includes transmission and distribution, as well as other provider costs.

“Once we know our total cost, we will review our prices and expect them to be lower.”

Osprey Charging announced last week that it had increased the cost of accessing its network of fast devices by more than 50%, with rates being raised from 66p to a whopping £1 per kWh.

Osprey Charging announced last week that it had increased the cost of accessing its network of fast devices by more than 50%, with rates being raised from 66p to a whopping £1 per kWh.

Ginny Buckley, founder of electric vehicle website Electrifying.com, says it’s “unsurprising” that charging network prices are on the rise.

“For drivers who cannot take advantage of cheaper home-based electricity rates, this is having a major impact on operating costs at a time when the budget is under unprecedented pressure,” she said. This is money.

“It hits hardest those who live in towns and cities, where electric vehicles can have the biggest impact on air quality.

“With such a huge difference between the highest and lowest prices, I would also advise drivers who want to manage their budget to look for the best public charging rates, even if they are just stopping to recharge quickly.”

RAC electric vehicle spokesman Simon Williams added last week: “With the energy price guarantee, households now have the confidence they need to pay for electricity and gas ahead of the colder months.”

“This is especially good news for EV drivers who can charge their cars at home, but those who regularly use public chargers are likely to be hit hard by the rising cost of wholesale electricity that charging point operators are suffering from. .’

Ahead of the announcement of the scheme for businesses, he said: “Now we need the government to urgently announce a specific support package for point of sale operators and, moreover, other businesses more broadly that have no choice but to raise their prices. to a previously unthinkable level. to reflect rising electricity prices.

Credit: www.dailymail.co.uk /

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