When considering upgrading from an internal combustion engine (ICE) vehicle to a new EV, there are several factors to take into account. One major consideration for many is the charging cost compared to the expenses of refuelling a car with petrol or diesel.
In many cases, EVs continue to benefit from significant savings on the cost of fuel. Charging a medium-sized electric car at home can cost less than half the price of filling up an equivalent petrol vehicle.
In 2024, charging at home costs average 8p per mile while a diesel or petrol vehicle can cost around 13p to 17p per mile to fuel. Some suppliers continue to offer tariffs enabling drivers to charge their EVs at under 3p per mile (EDF Energy, GoElectric Overnight with Pod Point = 8.49p per kWh) .
On average, Zapmap charging data shows that the cost of charging an EV on the public network is roughly equivalent to fuelling an equivalent petrol car.
How to calculate Pence Per mile?
The easiest way to compare fuel costs is to look at the pence per mile of EVs and ICE vehicles. To work out how much charging / fueling your vehicle costs use the formulas below
| EVs | ICE Vehicles |
|
(Electricity rate in pence per kWh ÷ 100) x (Battery Capacity in kWh) ÷ Mileage |
(Price per litre ÷ 100) ÷ (MPG ÷ 0.22) |
How do costs really compare?
Lease Electric have compared three EVs to similar ICE alternatives, showing you how cost of charging VS refuelling with petrol or diesel compares this August.
We have used the following prices:
| EV Charging | Petrol / Diesel |
| Home Charger Tariff - EDF Energy Go Electric with Pod Point = 8.49p per kWh |
UK Wide Unleaded Price = 142.46p per litre UK Wide Diesel = 147.31p per litre |
| Average Public Charging Tariff Ultra Rapid Charger (150kWh +) = 77.86p per kWh |
UK-wide Unleaded Price - Motorway = 166.24p per litre UK Wide Diesel Motorway = 173.01p per litre |
The figures have been sourced from RAC Fuel Watch and RAC Charge Watch. To find out more about our EV charging partner Pod Point, and the Home Charging Tarriff with EDF Energy, click here.
Cost comparisons August 2024:
1. Volkswagen ID.3 and Vollkswagen Polo
We have compared the VW ID.3 with the VW Golf Hatchback, due to their similar dimensions.
|
Volkswagen ID.3 150kW Pro S 77kWh 5dr Auto 347 miles (WLTP Combined) |
Volkswagen Golf Hatch Life 1.5 TSI 115ps 6-Speed Manual 5 Door 52.3mpg (WLTP Combined) |
| Home Charging = 2p per mile | Unleaded = 12p per mile |
| Public Charging Ultra Rapid Charger (150kWh +) = 17p per mile | Motorway Unleaded= 13p per mile |
2. MG ZS Trophy and MG ZS Exclusive
We have compared these vehicles, as the same model is available as either an electric vehicle (EV) or a petrol-fuelled vehicle.
|
MG ZS 115kW Trophy EV Long Range 73kWh 5dr Auto 273 miles (WLTP Combined) |
MG Z3 Exclusive 1.5 VTI-tech 5-speed Manual 47.0mpg (WLTP Combined) |
| Home Charging = 2.7p per mile | Unleaded = 13p per mile |
| Public Charging Ultra Rapid Charger (150kWh +) = 20p per mile | Motorway Unleaded= 16p per mile |
3. Kia EV9 - Land Rover Ranger Rover Sport
Despite the difference in manufacturers, the comparison between the Kia EV9 and the Land Rover Range Rover Sport was made due to their similarity in size.
|
Kia EV9 282kW GT-Line S 99.8kWh AWD 5dr (7st) Auto 308 miles (WLTP Combined) |
Range Rover Sport S D250 39.4mpg (WLTP Combined) |
| Home Charging = 3p per mile |
Diesel = 17p per mile |
| Public Charging Ultra Rapid Charger (150kWh +) = 25p per mile | Motorway Diesel = 22p per mile |
If you're considering switching to an EV, and would like to know more about charging, we have a few EV guides that you might find useful: