EV charging costs are expected to increase amid an anticipated rise in electricity costs caused by the Iran crisis
Chaos on energy markets caused by the war in Iran is set to lumber EV owners with higher charging bills – but rocketing pump prices mean green vehicles will remain cheaper to run than petrol or diesel equivalents, experts have said.
Drivers of electric vehicles are immune to the price rises already hitting UK forecourts after the halt of shipments through the Strait of Hormuz on Monday saw oil prices hit $100 (£75) per barrel.
But EV charging costs are also expected to increase as an anticipated rise in electricity costs caused by the Iran crisis also feeds through in the coming months.
Analysts have predicted that the energy price cap – the mechanism used by the Government to limit domestic power costs – is likely to rise by about 10 per cent in July, after the Middle East war sparked a sharp rise in wholesale gas prices.
This would represent an increase of about £160 a year in the energy bill of a typical household, bringing it to £1,800 a year.
Frankie Mayo, senior UK analyst at Ember, an energy pricing think-tank, said a “serious rise” in energy prices is “already evident”.
He said: “Britain remains too reliant on gas for both power and heating, and consumers are already facing price rises in both power and vehicle fuel prices.”
Read more: iNews
