How much is your EV costing you to run?

[SDK]

Tye Green said:

those rates of 5p per kwh are probably disingenuous because most dual-rate tariffs available now that offer cheap off-peak are loaded during the peak time such that the total cost of all usage averages about the same or sometimes above.

in other words watching the telly or running the dishwasher is subsiding charging the car!

For me Octopus Go beats any other Octopus Tariff, by 42%+.
This saving will be even more when I have Solar & battery storage installed in a couple of weeks. As 95% of my annual elec use will all be off peak.




In terms of the original question


Polestar 2 : DM LR (75 kWh battery)
Mileage per year : 10k
Annual 'Fuel' cost : £256
Annual Maintenance: £0
Insurance: - not sure as it's included in my monthly car cost
Road “fund” license: £0
Total: £256 + Insurance

Edited by SDK on Tuesday 7th June 16:04

[M4cruiser]

SDK said:

In terms of the original question


Polestar 2 : DM LR (75 kWh battery)
Mileage per year : 10k
Annual 'Fuel' cost : £256
Annual Maintenance: £0
Insurance: - not sure as it's included in my monthly car cost
Road “fund” license: £0
Total: £256 + Insurance

Edited by SDK on Tuesday 7th June 16:04

^ ^ Have you forgotten Depreciation, which is £1 per hour whether you're using the car or not ...

[dmsims]

M4cruiser said:

^ ^ Have you forgotten Depreciation, which is £1 per hour whether you're using the car or not ...

Custard time - please show me one for £40K that's a year old..............................

[NDA]

dmsims said:

M4cruiser said:

^ ^ Have you forgotten Depreciation, which is £1 per hour whether you're using the car or not ...

Custard time - please show me one for £40K that's a year old..............................

My Tesla is worth more than I paid for it - so it's going the other way.

[dmsims]

NDA said:

My Tesla is worth more than I paid for it - so it's going the other way.

They are looking at Autotrader and head scratching .....

[the-photographer]

Amateurish said:

My Leaf costs about 7p / mile to charge, based on the standard price cap electricity price. Presumably this will go up to about 10p / mile in the autumn.

I'm brand new to electric, so for my first dummy question. Can I use your 10p / mile estimate for any EV with any battery capacity?

I'm on the standard tariff and consider the switch to a Mini EV with a 32Kw battery, average miles a week 120.

Thanks

[ashenfie]

I commented on this before but your say to run a mini ev or alternative is going to cost around 50p a mile. The assumption being you charge at home. Will you say anything over petrol not really at that low mileage.

[OutInTheShed]

NDA said:

dmsims said:

M4cruiser said:

^ ^ Have you forgotten Depreciation, which is £1 per hour whether you're using the car or not ...

Custard time - please show me one for £40K that's a year old..............................

My Tesla is worth more than I paid for it - so it's going the other way.

Looking at Autotrader, old ones are still cheaper than new ones.
Setting aside random stuff happening, the big picture is it will lose money in the long term.

As will an IC car of course.

But we can only guess future prices.

Say I bought an i3 for £10k, with 70k miles on it.
Stab in the dark, it might last to 170k miles? That would be 10p a mile. I'm guessing reality is likely worse than that?

If I bought a lower mileage one for £15k, it might drop to £10k in maybe 25000 miles?
(just looking at today's prices in Autotrader for various mileages today, not looking forwards or back. This is not rigorous science!)
That's 20p a mile.
Allow 5p per mile for 'fuel' to be generous?
25p per mile for fuel and depreciation is not easy to achieve in an IC shed.
I'm looking at 18p fuel and 10p depreciation averaged over 6 years of car that's been pretty good to me.

Food for thought I think.

It's starting to look like we've reached a tipping point where it's cheaper overall to have a reasonable used EV than a half-reasonable IC shed.
Unfortunately, I need to tow and like to do long trips to the Lakes etc. But we only need that from one of two cars in our household.

But this is not encouraging me to spend proper money on another IC car.

[Maracus]

the-photographer said:

Amateurish said:

My Leaf costs about 7p / mile to charge, based on the standard price cap electricity price. Presumably this will go up to about 10p / mile in the autumn.

I'm brand new to electric, so for my first dummy question. Can I use your 10p / mile estimate for any EV with any battery capacity?

I'm on the standard tariff and consider the switch to a Mini EV with a 32Kw battery, average miles a week 120.

Thanks

If you're on Octopus Go @ 7.5p/kW then electric cost per mile for a MINI Electric is 1.85p. Standard tariff would be 30p? per kW, so 7.5ppm..

Based on 10k a year - servicing costs (which is £200 every 2 years for a MINI E) and a couple of tyres every 2 years @ £100 a corner? 20000/£200 = 1p, plus minimal depreciation.

7.5p + 1p + depreciation.= cost per mile.



.

[ashenfie]

Maracus said:

the-photographer said:

Amateurish said:

My Leaf costs about 7p / mile to charge, based on the standard price cap electricity price. Presumably this will go up to about 10p / mile in the autumn.

I'm brand new to electric, so for my first dummy question. Can I use your 10p / mile estimate for any EV with any battery capacity?

I'm on the standard tariff and consider the switch to a Mini EV with a 32Kw battery, average miles a week 120.

Thanks

If you're on Octopus Go @ 7.5p/kW then electric cost per mile for a MINI Electric is 1.85p. Standard tariff would be 30p? per kW, so 7.5ppm..

Based on 10k a year - servicing costs (which is £200 every 2 years for a MINI E) and a couple of tyres every 2 years @ £100 a corner? 20000/£200 = 1p, plus minimal depreciation.

7.5p + 1p + depreciation.= cost per mile.



.

He clearly states 120 miles a week which is just over 6k a year and as you say it depends on electricity deal the poster has.

[Maracus]

ashenfie said:

Maracus said:

the-photographer said:

Amateurish said:

My Leaf costs about 7p / mile to charge, based on the standard price cap electricity price. Presumably this will go up to about 10p / mile in the autumn.

I'm brand new to electric, so for my first dummy question. Can I use your 10p / mile estimate for any EV with any battery capacity?

I'm on the standard tariff and consider the switch to a Mini EV with a 32Kw battery, average miles a week 120.

Thanks

If you're on Octopus Go @ 7.5p/kW then electric cost per mile for a MINI Electric is 1.85p. Standard tariff would be 30p? per kW, so 7.5ppm..

Based on 10k a year - servicing costs (which is £200 every 2 years for a MINI E) and a couple of tyres every 2 years @ £100 a corner? 20000/£200 = 1p, plus minimal depreciation.

7.5p + 1p + depreciation.= cost per mile.



.

He clearly states 120 miles a week which is just over 6k a year and as you say it depends on electricity deal the poster has.

1.85p x 6000 = £111 in electric @7.5p/kW or £450 @ 30p/kW.

£200 for servicing every 2 years

£200 for a couple of tyres every 3 years.

£100 + £66 + £450 = £616 per year or 10.2ppm plus minimal deprecation.

Cheap. It would be near £120 a month in petrol alone @ 40mpg.

[Amateurish]

Maracus said:

the-photographer said:

Amateurish said:

My Leaf costs about 7p / mile to charge, based on the standard price cap electricity price. Presumably this will go up to about 10p / mile in the autumn.

I'm brand new to electric, so for my first dummy question. Can I use your 10p / mile estimate for any EV with any battery capacity?

I'm on the standard tariff and consider the switch to a Mini EV with a 32Kw battery, average miles a week 120.

Thanks

If you're on Octopus Go @ 7.5p/kW then electric cost per mile for a MINI Electric is 1.85p. Standard tariff would be 30p? per kW, so 7.5ppm..

Based on 10k a year - servicing costs (which is £200 every 2 years for a MINI E) and a couple of tyres every 2 years @ £100 a corner? 20000/£200 = 1p, plus minimal depreciation.

7.5p + 1p + depreciation.= cost per mile.



.

The problem with Octopus Go (as someone else said upthread) is that you are paying more for your daytime electricity. So you can't just say 7.5p/kW = 2p/mile.

The additional cost for electricity for the other 20 hours per day is 7p/kWh. Average electricity usage for a household is 10 kWh / day, so we are looking at 70p a day extra costs, or about £5 a week. For 120 miles a week, this adds about 4p / mile to the cost of your electric vehicle. So now your 2p / mile rises to 6p / mile. Which is very similar to my 7p on the standard tariff.

[Maracus]

Amateurish said:

Maracus said:

the-photographer said:

Amateurish said:

My Leaf costs about 7p / mile to charge, based on the standard price cap electricity price. Presumably this will go up to about 10p / mile in the autumn.

I'm brand new to electric, so for my first dummy question. Can I use your 10p / mile estimate for any EV with any battery capacity?

I'm on the standard tariff and consider the switch to a Mini EV with a 32Kw battery, average miles a week 120.

Thanks

If you're on Octopus Go @ 7.5p/kW then electric cost per mile for a MINI Electric is 1.85p. Standard tariff would be 30p? per kW, so 7.5ppm..

Based on 10k a year - servicing costs (which is £200 every 2 years for a MINI E) and a couple of tyres every 2 years @ £100 a corner? 20000/£200 = 1p, plus minimal depreciation.

7.5p + 1p + depreciation.= cost per mile.



.

The problem with Octopus Go (as someone else said upthread) is that you are paying more for your daytime electricity. So you can't just say 7.5p/kW = 2p/mile.

The additional cost for electricity for the other 20 hours per day is 7p/kWh. Average electricity usage for a household is 10 kWh / day, so we are looking at 70p a day extra costs, or about £5 a week. For 120 miles a week, this adds about 4p / mile to the cost of your electric vehicle. So now your 2p / mile rises to 6p / mile. Which is very similar to my 7p on the standard tariff.

I use the Octopus comparison - https://octocomparison.co.uk/comparison.

For me, it would be twice as much going on to a non EV rate. The power the cars use is huge compared to the rest of my usage.

So even paying more for my daily rate to gain the 00:30 - 04:30, it's way cheaper. * based on my current 5p/15p Go Tariff

[OutInTheShed]

Maracus said:

If you're on Octopus Go @ 7.5p/kW then electric cost per mile for a MINI Electric is 1.85p. Standard tariff would be 30p? per kW, so 7.5ppm..

Based on 10k a year - servicing costs (which is £200 every 2 years for a MINI E) and a couple of tyres every 2 years @ £100 a corner? 20000/£200 = 1p, plus minimal depreciation.

7.5p + 1p + depreciation.= cost per mile.



.

I think people are deluding themselves that depreciation is minimal.

A car a year older and 5000 miles more used is worth less.
Looking at electric minis on Autotarder, there's not a lot of data, but you could say that year and 5k miles costs about £1500. 30p a mile.
You might justify different numbers, but 'minimal' doesn't wash.

In the limit it depreciates from 25 grand to SFA in maybe 150k miles, which would looks like about 16p a mile.
The big question being how that's shared.

The freak market over the last couple of years with high secondhand prices doesn't make cars like houses.
I know people who've cashed out by selling their personal car at a profit and getting a company car, but most people are just notionally losing less on a car but paying more for the next one.

There's also the cost of the money, you could tie up the £25k in a bond and get maybe 3%.
Many ways of looking at it, but you can't pretend the capital doesn't matter.

[dmsims]

Amateurish said:

The problem with Octopus Go (as someone else said upthread) is that you are paying more for your daytime electricity. So you can't just say 7.5p/kW = 2p/mile.

The additional cost for electricity for the other 20 hours per day is 7p/kWh. Average electricity usage for a household is 10 kWh / day, so we are looking at 70p a day extra costs, or about £5 a week. For 120 miles a week, this adds about 4p / mile to the cost of your electric vehicle. So now your 2p / mile rises to 6p / mile. Which is very similar to my 7p on the standard tariff.

The counter argument is to use that off peak for dishwasher/washing machine/drier/cooking and anything else e.g. a timed pump

Using that - your argument is nonsense as the average will be much lower than any other tariff

[Maracus]

OutInTheShed said:

I think people are deluding themselves that depreciation is minimal.

A car a year older and 5000 miles more used is worth less.
Looking at electric minis on Autotarder, there's not a lot of data, but you could say that year and 5k miles costs about £1500. 30p a mile.
You might justify different numbers, but 'minimal' doesn't wash.

In the limit it depreciates from 25 grand to SFA in maybe 150k miles, which would looks like about 16p a mile.
The big question being how that's shared.

The freak market over the last couple of years with high secondhand prices doesn't make cars like houses.
I know people who've cashed out by selling their personal car at a profit and getting a company car, but most people are just notionally losing less on a car but paying more for the next one.

There's also the cost of the money, you could tie up the £25k in a bond and get maybe 3%.
Many ways of looking at it, but you can't pretend the capital doesn't matter.

It depends when you bought one.

Back in June 2021 when we started looking for a lightly used L2 Mini E, they were £23k, Fast forward a year and the same age car is £26k.

We bought our used 2021 L2 in Feb 2022, you can't buy the equivalent now for less than £28500. Obviously they are going to depreciate, but it's good start

I had the money in Premium bonds, so going with the odds of winning, it's about 1% a year.

[Amateurish]

Maracus said:

I use the Octopus comparison - https://octocomparison.co.uk/comparison.

For me, it would be twice as much going on to a non EV rate. The power the cars use is huge compared to the rest of my usage.

So even paying more for my daily rate to gain the 00:30 - 04:30, it's way cheaper. * based on my current 5p/15p Go Tariff

Yes, but that rate isn't available is it? Not helpful for people looking to buy an EV today.

The comparison for rates available *now* is 7.5p/35p...

[Amateurish]

dmsims said:

Amateurish said:

The problem with Octopus Go (as someone else said upthread) is that you are paying more for your daytime electricity. So you can't just say 7.5p/kW = 2p/mile.

The additional cost for electricity for the other 20 hours per day is 7p/kWh. Average electricity usage for a household is 10 kWh / day, so we are looking at 70p a day extra costs, or about £5 a week. For 120 miles a week, this adds about 4p / mile to the cost of your electric vehicle. So now your 2p / mile rises to 6p / mile. Which is very similar to my 7p on the standard tariff.

The counter argument is to use that off peak for dishwasher/washing machine/drier/cooking and anything else e.g. a timed pump

Using that - your argument is nonsense as the average will be much lower than any other tariff

You're right, if you can arrange all of your electricity usage between 1am and 4am then my argument is "nonsense".

However, in the real world that's not actually how people live their lives.

[Maracus]

Amateurish said:

Maracus said:

I use the Octopus comparison - https://octocomparison.co.uk/comparison.

For me, it would be twice as much going on to a non EV rate. The power the cars use is huge compared to the rest of my usage.

So even paying more for my daily rate to gain the 00:30 - 04:30, it's way cheaper. * based on my current 5p/15p Go Tariff

Yes, but that rate isn't available is it? Not helpful for people looking to buy an EV today.

The comparison for rates available *now* is 7.5p/35p...

That is correct, unless you're buying an additional EV and you already have that tariff for now!

Come December I'll become nocturnal

[Ransoman]

Folks, can you please include finance or lease costs as otherwise your cost breakdowns are very misleading.

It's great that your tesla model 3 is costing you 6p per mile but how much is that when you factor in the purchase price?