THE FUTURE COSTS OF RUNNING AN ELECTRIC VEHICLE - The impact of changing

CLIMATE IMPACTS ON FOOD IMPORTS THE FUTURE COSTS OF RUNNING AN ELECTRIC VEHICLE The impact of changing energy prices on the cost of motoring November 2023 A report by: The Energy & Climate Intelligence Unit 1 FUTURE COSTS OF RUNNING AN ELECTRIC VEHICLE Table of contents Executive Summary 3 Background 4 Electricity and the energy crisis 5 Petrol and the energy crisis 7 Crunching the numbers 11 Fuel. [...] The report considers the impact that anticipated changes in the cost of electricity and the cost of petrol later in the decade will have on the relative costs of fuelling an EV and a petrol equivalent. [...] Scenario one is based on data collected by the Government on the average weekly price of a litre of petrol in the UK, going back to the beginning of 2003. [...] The main driver for changes in electricity unit rates has been the wholesale electricity price driven by the gas crisis, and this will continue to be the case for the rest of this decade. [...] To a first approximation, current and future unit costs and unit rates can be estimated by scaling the wholesale costs by the ratio of the wholesale price for the year in question to the pre-crisis average e.g.