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The UK Government should help reduce the cost of charging EVs by decoupling the wholesale price of electricity from gas, according to campaign group FairCharge and the RAC.
They have argued that current high wholesale electricity price continue to be set by the unprecedented global wholesale price of gas, which as well as driving higher domestic and commercial energy bills is also potentially impacting the attractiveness of EVs due to much higher charging costs.
They said the government should rgently publish the results of its Review of Electricity Market Arrangements - which closed for consultation last October - so the decoupling process can begin.
According to RAC data, the average cost of using the very fastest chargers increased by 50% between May 2022 and last month.
FairCharge advisor and Plug Life Consulting consultant battery electrochemist Euan McTurk said: "Bizarrely, it's currently the case that the most expensive form of electricity generation - gas-fired power plants - determines wholesale electricity prices even though it's other cheaper sources of power, such as renewables, that make up most of where our electricity actually comes from over the course of the year.
"It would make far more sense for wholesale electricity prices - which ultimately dictate what consumers and businesses pay - to reflect where most of the energy is being generated on any particular day.
"Gas power plants would still be paid what they need to keep operating, but wholesale electricity prices would plummet instantly by several tens of pence per kWh, cutting home and commercial energy bills - as well as public EV charging costs. This could all be done very easily at no expense to taxpayers."
RAC spokesperson Simon Williams said: "It's very important that enthusiasm for electric vehicles isn't dampened in the run-up to 2030 when the sale of new petrol and diesel cars comes to an end.
"The fact electricity has gone up in price quite dramatically due in the most part to the wholesale price of gas shooting up as a result of the war in Ukraine is a sign that action needs to be taken to change this for the benefit of households and businesses, and to guarantee the electric car revolution stays on track.
"We urge the government to publish its consultation findings as soon as possible, to act on the findings and improve the way the wholesale electricity price is worked out."
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