The latest electric vehicle (EV) monthly report from Mina has shown a slight reduction in EV charging costs for the first time since the report started in June 2022.
The average cost to charge cars and vans in public saw a small decrease from 76p in April to 75p in May. For cars specifically the average was 73p, with average home charging cost at 32p. The lowest cost was 31p, 3p less than the previous month.
However, according to the Mina report, “we’ve not seen domestic prices drop yet – they have remained steadily bobbing along at 32p per kWh for the past four months.”
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The report cautions that the small decrease could be due to EV owners becoming smarter about charging their vehicles on slightly cheaper networks, and it will take a few more months to be sure this is a consistent trend.
Prices also remain significantly up on June 2022, when it cost an average of 56p to charge in public and 26p at home.
Another positive trend is the speed of charging, with cars charging an average 25% faster than they did in June 2022. This is due to the growing network of fast EV chargers on UK roads.
Mina, an EV charging solutions company, has recently announced a partnership with smart energy technology business Indra to improve payment solutions for EV fleet drivers.
The agreement allows the full range of Indra’s EVsmart chargers to integrate with Mina’s payment platform for fleet and business customers. Indra’s Smart PRO and Smart LUX EV chargers will be able to integrate with Mina Homecharge, giving businesses and fleet drivers access to software that accurately records and pays for their electricity usage.