Electric Vehicle Users Experience No Costs for Remainder of Current Year
In a groundbreaking development, it has been revealed that the affordability of electric vehicles (EVs) has surpassed that of petrol cars, with the 'crossover day' - the point at which the annual fuel cost for an average UK petrol driver exceeds the annual charging cost for an EV driver - falling on July 3rd this year.
This significant milestone, calculated by the Electric Car Scheme, is a testament to the growing advantages of EVs. The cost of rapid charging has been steadily decreasing, leading to a more affordable EV option in recent weeks.
The average CO2 emission per mile for an average petrol car stands at 274.4 grams, while for an EV, it is a mere 47.7 grams. This substantial reduction in emissions highlights the environmental benefits of choosing an EV. The amount of CO2 saved by drivers of electric cars has also increased as the share of electricity being generated by renewable sources has risen in the past year.
Edmund King, the President of the AA, commented on the data, stating that it shows a clear delineation in the relative costs and environmental impacts of driving a petrol car versus an EV.
The savings for EV owners increase each year due to fluctuating fuel and energy prices and the improvement in the efficiency of EVs. In fact, the average EV driver gets essentially six months of free driving, with the date for when driving an electric car becomes 'free' getting earlier each year.
The average cost per mile for electric driving is £0.08, a fraction of the cost per mile for petrol. The average price per day for petrol in 2025 is expected to be £3.18, while the £592 spent by July 3rd for EV charging covers the entire year's costs for an average UK driver.
Despite higher upfront purchase costs for EVs, their operational savings are rapidly growing as EV sales surge and charging infrastructure improves. Increasing EV adoption, government mandates, and incentives aim to make EVs cost-competitive and practical for most drivers.
Thom Groot, the CEO and co-founder of the Electric Car Scheme, expressed his pleasure at the news, stating that EV drivers will be pleased to hear that their driving is effectively free compared to the average petrol driver. The OFGEM energy price cap fall brings further cost reductions for EV owners, making electric driving an even more attractive option.
Some EV drivers have already been driving for three months essentially for free, and the date for when driving an electric car becomes 'free' is expected to fall earlier each year. In 2023, the date was August 1st, and in 2024, it's July 15th.
This shift towards electric vehicles not only offers financial benefits but also contributes significantly to reducing carbon emissions, making it a win-win situation for both drivers and the environment.
- With the costs of electric vehicle (EV) charging steadily declining and the annual charging cost for an EV driver now being lower than the annual fuel cost for an average UK petrol driver, it's probable that many are considering the environmental and financial benefits of swapping to EV insurance coverage for their sports vehicles.
- The growing number of EV owners can now enjoy not just the environmental advantages of driving electric cars, but also surprisingly low operational costs, such as insurance premiums and sports utility expenses, thanks to the increasing affordability of EVs.
