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Charge point operators pivot to peak and off-peak tariffs, AA EV Recharge Report reveals

Ultra-rapid charge point operators are switching towards offering peak and off-peak tariffs, enabling drivers using services at night to benefit from “cheap as chips” charging. 

EV charge point operators are pivoting to peak and off-peak rates

A few companies announced changes to their business model in September to provide EV charging flexible rates, rather than a fee applied 24/7. And the AA’s EV Recharge Report for last month shows the move has drastically altered the picture for charging prices, with ultra-rapid peak rate costs increasing by 8p/kWh, while off-peak rapid charging fell by 10p/kWh.

Jack Cousens, head of roads policy for the AA, said: “While each company differs when off-peak rates come into play, it seems fairly uniform that unsocial hours trigger the best value for charging at high speeds.

“If drivers are willing to watch the 10 o’clock news in their car, then rapid charging can be as cheap as chips.”

Prices at most flat-rate chargers are also down, falling by up to 2p/kWh, although flat-rate fast charging rose by 3p/kWh.

September also saw the price of fuel fall considerably to 135.20 pence per litre. However, domestic charging, all forms of slow charging and off-peak ultra-rapid charging still offer cheaper motoring on a pence-per-mile basis compared to petrol (12.02p/mile).

The AA has also called for EV infrastructure investment and VAT parity in tomorrow’s Budget.

The motoring services specialist said reducing VAT from 20% to 5% would level the playing field for the 40% of households without dedicated off-street parking, and help drivers make further savings.

The AA also wants to see the right speed of charge in the right place. While there is considerable focus on delivering rapid and ultra-rapid chargers, the AA would like to see more neighbourhood charging schemes such as street lamp upgrades, community charging hubs and investment in rural areas.

Jack Cousens added: “One of the main reasons drivers remain hesitant to making the switch to EVs is their perception that there are not enough public chargers. Both the Prime Minister and Chancellor have called on investment to help boost the economy. A sure-fire way to help the economy, provide jobs and futureproof personal transport is to invest in the EV sector.”

AA EV Recharge Report September 2024 – Flat Rates 

Charge Type Speed Sep Ave (p/kWh) Aug Ave (p/kWh) Difference (p/kWh) Cost to add 80% charge Pence per mile (p/mile)
Domestic Up to 7kW 22 22 0 £8.80 4.97
Slow Up to 8kW 49 51 -2 £19.60 11.07
Fast 8-49kW 61 58 3 £24.40 13.79
Rapid 50-149kW 73 74 -1 £29.20 16.50
Ultra-rapid +150kW 76 77 -1 £30.40 17.18
             
PETROL 135.20 ppl 142.30 ppl -7.10 ppl £43.26 12.02

 

AA EV Recharge Report September 2024 – Peak and Off-Peak Rates 

Charge Type Speed Sep Ave (p/kWh) Aug Ave (p/kWh) Difference (p/kWh) Cost to add 80% charge Pence per mile (p/mile)  
Slow Off-Peak Up to 8kW 42 42 0 £16.80 9.49  
Slow Peak Up to 8kW 58 58 0 £23.20 13.11  
Fast Off-Peak 8-49kW 75 75 0 £30.00 16.95  
Fast Peak 8-49kW 79 79 0 £31.60 17.85  
Rapid Off-Peak 50-149kW 65 75 -10 £26.00 14.69  
Rapid Peak 50-149kW 82 79 3 £32.80 18.53  
Ultra-rapid Off-Peak +150kW 52 51 1 £20.80 11.75  
Ultra-rapid Peak +150kW 67 59 8 £26.80 15.14  
               
PETROL 135.20 ppl 142.30 ppl -7.10 ppl £43.26 12.02

 Average prices are the PAYG options without connection fee as of 24 September 2024. Subscriptions are available for all charge point speeds which can unlock a cheaper p/kWh, however rates vary across provider. 

Calculations are based on adding 80% to a Vauxhall e-Corsa, 50kW, with a WLTP range of 221 miles, equivalent to 178 miles of range.

Fuel calculations are based on Vauxhall Corsa 75hp 1.2-litre petrol with a 40-litre tank and a combined low mpg of 51.4mpg. An 80% refuel equates to 32 litres, priced at 135.20ppl.

Written by Natalie Middleton

Natalie has worked as a fleet journalist for over 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.

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