By Paul Homewood
Electric cars can save us all a fortune in running costs! Or so we have been told.
Things were never as straightforward as that, and now rising electricity prices actually mean the reverse is the case.
I have used Vauxhall’s own comparison tool, as mentioned above. I have plugged in the newly announced electricity price cap for October, which is 52 pence per kwh – I realise the price will be capped at the April 2022 rate, but nevertheless this simply means that taxpayers are subsidising the true cost.
I have also assumed a price of £1.65/litre for petrol, but have deducted VAT and fuel duty – electricity is taxed at 5% VAT, but this is not included in the cap of 52 pence, while all drivers will ultimately have to pay fuel duty in o0ne form or other.
The results are staggering:
Energy costs are almost double for the EV.
Vauxhall still of course claim that you can save by not paying VED, but this is not a real saving, it is just another subsidy.
I would also challenge the claimed savings on servicing and maintenance costs. Most of my maintenance costs go on brakes and tyres, which for the heavier EV will be even higher.
And if you need to charge at a public charging station, the running costs will be even higher, with prices already typically around 50p/KWh even before the October hike (which may be delayed if the government freezes business electricity prices for six months, as mooted).
via NOT A LOT OF PEOPLE KNOW THAT
September 13, 2022