Charging an EV Is Costlier Than Filling Up With Gas Here

Written By BlabberBuzz | Saturday, 03 September 2022 05:15 AM
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Charging an EV Is Costlier Than Filling Up With Gas Here

One of the hallmark benefits of electric vehicles has always been that they're less costly to operate than gas-powered vehicles. With the current surge in energy costs, owners of electric vehicles are finding that the cost-effectiveness of electric vehicles might not be what they thought it was, per the Washington Times.

In Britain, consumers are being warned that there's going to be a surge in electricity costs of up to 80%. Britain has a price cap on residential electricity costs.

According to the Washington Times, beginning on October 1, it’s estimated that the national average for residential electricity will soar to around $343 per month. As it stands now, the average bill is around $190 per month.

One of the issues plaguing Britain is that Russia cut off natural gas to the region. Unlike many other European nations, Britain doesn't have domestic energy storage and is unable to produce energy sources so it's highly dependent upon imports.

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Some experts are concerned that what's happening in Britain is a warning to the United States about what's coming in the future. The U.S. is making a major push toward electric vehicles.

Americans should look to Britain for an idea of what might happen. A person driving a Kia Sportage that's gas-powered pays around $100 less per 400 miles for fuel than someone who drives an electric Kia Niro.

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It's expected that the impact will be the greatest for people in Britain using public charging stations. While electricity prices are expected to be around 60 cents per kilowatt-hour after this price hike, people who use public charging stations will pay at least 81 cents per kilowatt-hour.

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The United States is in a much better position regarding the price of electricity. California has one of the highest electricity prices in the country, but it's still lower than Britain. California has an average electric cost of 18 cents per kilowatt-hour, and the U.S. has an average of 10.59 cents.

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President Biden instituted a climate spending law encouraging the production of electric vehicles. It also provides tax credits for purchasing them. But, will this be enough to offset consumers’ costs because of rising electricity prices?

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