Osprey Charging has revealed it is increasing the price of its rapid electric vehicle (EV) charging network to £1/kWh due to “extraordinary circumstances”.
Osprey Charging told Current± last year it made a price increase in August 2021 from 36p/kWh to 40p/kWh, with this being due to a mix of wholesale prices as well as the confirmation from HMRC that VAT on the electricity used for EV charging should be 20%.
This new rate disclosed today is an increase by more than double the previous figure.
Ian Johnston, CEO of Osprey, detailed in a video that, despite the government releasing a £150 billion support package for businesses and consumers, the details or timeline have not been released, creating uncertainty across British sectors.
Despite a £2,500 price cap being imposed on households, businesses have not received similar support. This has seen the price of energy and bills increase by three times what it was last year with little protection to continue to operate without intervention.
“Of course we want to reduce these prices if we are able to do so,” said Johnston. “But until we know about the government support scheme, we have no choice but to increase our pricing.”
The price hike has occurred due to a rise in the cost of electricity. There are now fears that more chargepoint operators (CPOs) could also increase the price of EV charging and thus reduce the interest surround EVs.
Last month, Centrica’s Hive revealed 54% of UK drivers want to switch to an electric car within the next five years ahead of the internal combustion engine production ban from 2030.
However, due to the increase in the pricing of energy and charging, it may sway drivers away from adopting EVs amid the energy crisis.
Last month, Osprey disclosed it had partnered with British Garden Centres in order to add ultra-rapid charging hubs for electric vehicles (EVs) at 12 stores across the UK.
The ultra-rapid charging hubs are said to be capable of adding 100 miles of range in 20-30 minutes for EVs, with the first set to be established in a Carmarthen store in Wales. This will include eight ultra-rapid (159kW) chargers and is set to open later this year.
Further hubs will be developed across UK garden centres including Wimborne (Dorset), Carr Gate (Yorkshire), Braintree (Essex) and Harrow (London). A total of 12 sites have been confirmed with a mix of these larger hubs and some smaller installations depending on the size of the site and availability of power.
In July, Osprey also became the first CPO to subscribe to public charging endorsement body ChargeSafe. Thanks to subscribing, Osprey is able to review the data behind the scores, allowing it to identify specific areas to further improve the charging service it offers.
“We have long been supporters of what ChargeSafe stand for and we’re proud to become the first CPO to subscribe to its thorough, EV charging location rating system,” Johnston said.
Current±’s publisher Solar Media is running the EV World Congress on 5 and 6 October at the Leonardo Royal Hotel Tower Bridge. To find out more and get your ticket, see here.