Electric cars could save £ 8bn on fuel costs
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Swapping gasoline and diesel cars for electric vehicles (EVs) could save motorists £ 8 billion a year in fuel costs, according to a new Uswitch study.
With plans to ban sales of gasoline and diesel cars from 2035, more and more people are opening up to the idea of buying an EV. In the UK, 12 million drivers plan to switch to an electric car over the next two years.
While charging an electric car increases household energy bills, the running costs are much lower than that of a traditional car. Based on typical annual mileage, electric vehicle owners save an average of £ 329 per year compared to the cost of running a gasoline or diesel vehicle.
Charging an electric vehicle at home adds an average of £ 370 per year to a household’s energy bills (£ 30.90 per month), with the average driver spending £ 898 per year on gasoline or diesel (74, £ 86 per month). When adjusted for average mileage, electric car drivers save £ 329 per year on fuel (£ 27.48 per month).
Reduce the cost of recharging
Despite the additional costs on energy bills, charging an electric car at home is much cheaper than using public charging stations. Motorway charging stations are capable of providing enough electricity to cover 100 miles in just half an hour, but this will cost around £ 6.50, compared to £ 4.15 on average with a 7kW wall charger at the House
If you are planning to switch to electricity, you could save even more by making sure you get the best energy deal. Households with their supplier’s standard variable tariff could save an additional £ 92 per year (£ 7.69 per month) by switching to the cheapest fixed energy offer available.
Sarah Broomfield, Energy Expert at Uswitch, said: “Electric vehicles are becoming more and more popular, and 12 million drivers could soon swap their gasoline or diesel cars for a more environmentally friendly car.
“The good news for these drivers is that electric vehicles also have an additional financial advantage: they cost much less in fuel than a gasoline or diesel car. “
“However, charging costs may vary depending on your energy tariff. If you’re still on your provider’s standard variable rate, charging your car can cost an additional £ 7.69 per month, unless you switch to a more competitive fixed-term contract.
10 cheapest electric cars to use
We analyzed the prices of new electric cars and their cost per kilometer. The Renault Twizy came out on top for the largest cost savings over the average eight-year warranty period, with a cost of 1.61 pence per mile and a total cost of £ 11,745 including purchase price on eight years.
|Model||Price||Range (miles)||Cost per mile (pence)||Overall cost after eight years|
|Renault Twizy||£ 10,995||62||1.61||£ 11,745.63|
|Skoda Citigo e iv||£ 17,455||170||3.54||£ 19,106.54|
|SEAT Mii||£ 19,800||160||3.76||£ 21,554.76|
|Citroën C-Zero||£ 20,520||93||2.81||£ 21,832.58|
|Smart fortwo||£ 20,195||78||3.69||£ 21,916.50|
|Smart oven||£ 20,680||75.5||3.81||£ 22,458.51|
|DS Automobiles DS3 Hatchback||£ 22,120||180||4.54||£ 24,239.27|
|Volkswagen e-Up!||£ 23,555||159||3.32||£ 25,104.87|
|Mini hatch||£ 24,900||145||3.68||£ 26,615.30|
|MG Mg Zs||£ 25,495||163||4.47||£ 27,577.87|