"Osprey has seen charging costs at a location in Wolverhampton skyrocket from £87 a year to £33,651, representing an astonishing increase of 38,579%. Similarly, Fastned is reportedly paying £41,000 annually to maintain a site in Hamilton, South Lanarkshire."
"ChargeUK explained that changes introduced in 2023 now calculate prices based on the size of a site's grid connection instead of actual power usage. This means that operators are burdened with high fixed costs, regardless of how much energy they consume."
"We need to build enough charging infrastructure so that buying an EV becomes the obvious choice. At the moment, we simply absorb these high-standing charges, but that is not sustainable."
"Chancellor Rachel Reeves confirmed an additional £100 million for public EV chargers in the recent Autumn Budget, supplementing the £400 million already committed in the 2025 Spending Review."
Electric vehicle drivers are experiencing rising charging costs due to surging energy prices linked to the Middle East oil crisis. Some chargepoint operators may pass these costs onto motorists. For instance, Osprey's charging costs in Wolverhampton increased from £87 to £33,651, a 38,579% rise. Industry insiders warn that these costs could hinder EV adoption. Changes in pricing calculations based on grid connection size have led to high fixed costs for operators. The UK has 118,321 EV chargers, with government targets for 2030 ranging from 250,000 to 550,000 chargers.
Read at London Business News | Londonlovesbusiness.com
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