New data reveals real-life price of charging EVs

EV payment specialist Mina has recently launched a monthly report, aiming to provide businesses with clearer insights into the costs associated with charging electric vehicles (EVs).

The report, based on data from more than 50,000 real-life charging events each month, reveals the actual price of charging both at home and in public, while also calculating the running costs of cars and vans on a pence-per-mile basis.

According to Mina’s inaugural EV Snapshot for 23 May, domestic charging costs have stabilised at an average of 32p per kilowatt-hour (kWh). However, the report reveals that public charging prices continue to climb, reaching an average of 76p per kWh.

Mina’s dataset records the costs and consumption of EV users, both at home and in public, enabling the creation of a more accurate and reliable overview of charging trends compared to relying solely on energy and chargepoint providers’ data.

The EV Snapshot’s initial findings indicate that the significant energy price surges observed last year have subsided. But public charging costs have experienced gradual monthly increases, even as spring arrives.

In contrast, home charging costs have stabilised, prompting questions about potential reductions in home charging tariffs, following the announcement of a new price cap from July.

It remains uncertain whether falling energy prices in the summer will swiftly translate into lower costs for EV users or if wholesale prices will take longer to impact charging tariffs, Mina reported.

Mina CEO Ashley Tate concluded: “Since we launched the quarterly EV Report last year a lot of businesses have come on board with us because, as well as Mina making domestic and public charging payments much simpler and more accurate, they’ve realised we can provide a granular level of information about their vehicles and drivers that shapes their entire electric strategy.

“By moving to a monthly EV Snapshot we can help them on a more regular basis too.”

Image from Shutterstock

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