Electric Vehicles (EV) are taking British motorists back in time, with drivers now able to travel a mile by car on just one penny of fuel for the first time since the early 1970s.
EDF’s GoElectric 35 EV tariff offers an off-peak charging rate of just 4.5p / kwh – the lowest in Britain and equivalent to just 1.3p per mile for a typical EV. This means it’s possible for British drivers to travel for a penny a mile for the first time since 1972, when petrol cost 35p per gallon, the Ford Cortina was the country’s most popular car, flares were all the rage and T.Rex and Slade were topping the charts.
Despite the huge cost savings available, consumer research from EDF, Britain’s biggest generator of zero carbon electricity, reveals drivers are still in the dark about the benefits of switching to an EV. The average motorist estimates it would cost 34p to travel a mile in an EV, with over a third (38%) not aware that it’s cheaper to fully charge an electric vehicle than to fill a petrol/diesel car with a full tank of fuel.
The research of 2,000 motorists across the UK showed that drivers believe it costs an average of £25.80 to fully charge an EV – £20 more than the true cost using the EDF GoElectric 35 tariff.
With motorists expected to spend £941.21 a year on fuel, following the return to average annual mileage figures post-pandemic, making the switch to electric could save the average motorist up to £808.03 per year in fuel – a staggering £51,713.92 over the course of their lifetime. Two thirds (66%) of those who learnt it is cheaper to charge an EV than to fill-up a petrol/diesel car stated they would be more likely to consider making the switch.
With 49% of motorists put off switching to an EV due to the purchase cost and 43% believing they are more expensive to maintain, the significant fuel savings to be made over time could break down these barriers. However, only a quarter of motorists (26%) are aware that making the switch to an EV would save them money in the long run.
Despite the lack of understanding of the cost savings offered by EVs, motorists are increasingly attracted by their environmental benefit. Over half (56%) have made, or are considering making, the switch to an EV as they believe they are more environmentally friendly and 35% believe that an EV will make them feel that they are ‘doing their bit’ towards hitting the government’s target of Net Zero carbon emissions.
Currently the collective ‘carbon footprint’ of petrol and diesel cars on UK roads is fourteen times what it would be if all those vehicles were to switch to electric by 2030. With 32.4 million petrol and diesel cars on UK roads, these emit around 69.5 million tonnes of carbon dioxide per year, when driven an average of 7,600 miles. By comparison, the same amount of electric cars would add less than 5 million tonnes of CO₂ to the environment by 2030 – a fall of 92 per cent, reducing Britain’s overall carbon footprint by more than 10 per cent.
Philippe Commaret, Managing Director for Customers at EDF commented: “As Britain’s biggest generator of zero carbon electricity, we’re committed to making it as easy as possible for motorists to make the switch to an EV. Our GoElectric 35 tariff offers the cheapest off-peak rate in Britain, providing drivers with the cheapest travel costs seen in decades at just a penny a mile.
“Combined with the dramatic environmental benefits that could be achieved if we were all to switch to an electric vehicle over the next ten years, there has never been a better time to consider going electric.”