Real life EV costs revealed for the first time in the Mina EV Report

Monday, September 26, 2022 - 09:00
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Industry-first Mina report reveals real-world EV data from more than 32,500 home and public charges taking place over the summer

EV charging payment specialist Mina has launched a new quarterly report, which for the first time gives businesses and fleets real-world data on how EVs are being used across the UK – and how much they really cost.

The ‘Mina EV Report – Summer 22’, looking at the June-August 22 quarter, highlights costs, trends and behaviours gathered from among the country’s largest group of EV users – businesses running vans and company cars. Its findings are also compared to Mina’s historic data.

From the huge amounts of data gathered, Mina has revealed how long vehicles are being charged for, how much each charge has cost, where vehicles are being charged and how much these EVs cost to run on a pence-per-mile basis.

Key findings from the Mina EV Report – Summer 22:

  •     Average pence per mile (ppm) cost for an electric van if charged at home is 10ppm – double that of the Government’s Advisory Electricity Rate (AER) of 5ppm, while cars charged at home cost 7ppm on average.
  •     Nine out of ten charges result in car and van drivers being out of pocket if they reclaim costs using the AER.
  •     The average cost of home charging over Summer 22 was 26 pence per kilowatt hour (p per kWh) – more than 30% higher than the previous 12 months.
  •     The average cost of public charging is 56p per kWh – a rise of 19% over the previous year.
  •     The huge variation in public charging tariffs – from cheapest of 30p per kWh to the most expensive 277p per kWh.
  •     On average, drivers only spend around three-quarters of an hour charging in public, generally taking on around 90-100 miles of charge.

Mina CEO Ashley Tate said: “There’s a lot of discussion about the real cost of charging EVs, but much of it is entirely theoretical, and based on lots of assumptions and ‘what-ifs’. At Mina, our technology monitors every single charge, and every piece of associated data from the moment a car or van is plugged in, so we know exactly what is going on in the real world, the second it happens.

“We know every tariff, at home and in public, we can see how green that electricity is, the carbon impact in real time of every kWh and how much it costs for every kWh. This is transformative, because from this you can build a picture of real-life costs, which is so important as the energy crisis unfolds, and also begin to understand behaviour and trends.

“As an example, I think many will be surprised at just how little time drivers who can charge at home actually spend charging in public. This will inform strategy in future, not just for businesses looking at costs and productivity, but for networks and authorities rolling out chargers and assessing demand.

“We believe this quarterly report will provide a benchmark for the entire EV sector, businesses and drivers.”

To download a copy of Mina’s EV Report – Summer 22, click here.

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