Who controls the price of public EV chargers?
Do you use Public Chargers and wonder who sets the pricing?
If you have recently bought a Electric Vehicle (EV) you’ll be getting used to a newer way of ‘refueling’ your vehicle. With time, many EV drivers now say that it is far more convenient than pulling into the petrol station.
As with finding the cheapest local petrol station, EV owners are keen to find the cheapest and fastest chargers in their area, or on their travels. There are very few regulations in place to protect consumers at public charging points. Charge point operators (CPOs) do have to ensure they clearly display the maximum price of a charging session in pence per kilowatt hour (p/kWh) on the public charge point or through a separate device, like a mobile app. Additionally, the regulations ensure that the price does not change once the charging session has begun.
The prices can change based on various factors, including the cost of electricity, the type of charger (rapid or ultra-rapid), and the CPO’s pricing strategy. According to Zap Map, in 2023, the overall cost of charging on the public network increased by 11%, with a premium for high-powered rapid or ultra-rapid networks. Some operators are now offering fuel car type subscriptions for businesses which also gives them the advantage of tying you to their network, even if they may not be the cheapest.
At present, you won’t see pricing as competitive as home energy prices so it can seem like a poor deal compared to your overnight rate of 7p but Despite this, EV drivers are generally still in a better position compared to drivers of petrol and diesel cars when it comes to fuel costs.