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The impact of rising electricity prices on my electric car

The impact of rising electricity prices on my electric car

While the ecological appeal of electric vehicles is undiminished, the fear of skyrocketing electricity bills with each recharge is very real. 

As a reminder, the Minister of the Economy, Bruno Le Maire, announced confirmation of the increase in electricity rates from February 1ᵉʳ.. Nearly 97% of French households will only see an increase of less than 10%..

Indeed, as soaring energy prices rock the EU, electric car owners are asking a number of legitimate questions: What impact will this increase have on electric car charging? Will the rising cost of electricity make electric driving less economical? 

Is this the end of the electric dream? 

In this article, we explore the impact of rising electricity prices on the budget of electric motorists, and propose solutions to optimize your consumption and minimize the impact of soaring prices.

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What is the rate increase since February 1ᵉʳ, 2024?

On February 1ᵉʳ, 2024, electricity rates rose by 8.6% for customers on the basic option and by 9.8% for those on the peak/off-peak optionaffecting respectively 10.6 million and 9.3 million consumers respectively.. Depending on their energy supplier, some consumers could even see an increase in excess of 10%. Naturally, this increase applies to both residential and business customers,

This sudden increase comes in view of the gradual end the gradual end of the government's initiated in October 2021, following tensions in the tensions in Ukraine. This protection of French citizens' purchasing power has contained a significant rise in energy costs compared to other European nations, to slow the effects of inflation.

Against this backdrop, the government reduced the Taxe Intérieure de Consommation Finale d'électricité (TICFE) à 1 per megawatt/hour, compared with €32 before the crisis.

This tax in question is gradually increasing to 21 € on February 1ᵉʳ, 2024, before returning to its normal level in February 2025.

What about my home charging station?

That said, it is important to remember that the cost of electricity for French households has risen from €0.2273 to €0.25 (price per kWh) for Tarif Bleu EDF, affecting more than 25 million households in France in 2024.

This increase in electricity prices, estimated at 22 for every 1,000 kWh consumedtranslates into an additional cost of around €20 for a 5,000 km journey in an electric car, if recharged at home.

According to EDF estimates, the the cost of home recharging for an electric car with a 50 kWh battery is around €3.4.. What's more, the energy supplier estimates that for every 100 km driventhe cost of recharging an electric vehicle varies between 2 to €11regardless of the charging method used.

On the other hand, according to Engie, the cost of a home recharge varies from : 

  • 2,22 à 3,70 € during peak hours (depending on terminal power and vehicle consumption),
  • 1,34 à 2,24 € during off-peak hours.

Naturally, when charging at home, the calculation will include the choice of electricity contract and supplier, as well as the type of charging station installed. 

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What about public charging stations?

Until now, developers of recharging infrastructures have benefited from state aid via their electricity supplier to contain recharging costs for drivers. However, the end of the tariff shield applies to everyone. 

As a result, suppliers will adjust their tariffs for public charging points. Nevertheless, changes to the tariff schedule may not be immediate, due to a certain inertia between the application of the new electricity tariffs by the government and the adjustment by suppliers. 

However, the consequences of rising energy prices are far more complex to assess and predict than those of home charging. 

As with home charging stations, charging prices vary considerably depending on : 

  • terminals, 
  • operators, 
  • charging hours,
  • subscription types. 

You'll need to remain vigilant and compare prices wherever possible, to keep costs as low as possible.

Charging is still more affordable than a combustion car?

Although electricity prices have risen significantly recently, fuel prices appear to be more constant. Despite this, the cost of gasoline remains much higher for drivers of internal combustion vehicles.

In fact, the cost of recharging an electric car is around €2.50/100 km with home charging. By contrast, a gasoline-powered car is generally 3 times more expensive (according to Qovoltis). 

For more information on this subject, we invite you to consult our article on the comparison between electric and combustion-powered carsor on electric vehicles cheaper than combustion engines by 2025.

Our tips for optimizing the charging costs of your electric car

With electricity prices soaring, optimizing charging costs is becoming crucial for electric vehicle drivers. Here are a few practical tips to help you cut costs and get the most out of your electric car.

Use free recharging

In France, various options are available for charging your electric vehicle free of charge. However, it's advisable to check with your local authorities. It's also possible to pay for parking, but not for recharging.

We can find them here: 

  • in car dealerships,
  • in the workplace,
  • in town halls and local administrations,
  • on supermarket/shopping center parking lots,
  • in hotel and catering establishments.
bdr ev

Practice eco-driving

This smoother ride not only reduces energy consumption, but also preserves battery life. 

But how do you practiceeco-driving ? It's quite simple:

  • Check tire condition and pressure regularly,
  • Apply regenerative braking by releasing the gas pedal,
  • Practice flexible driving and anticipate traffic conditions,
  • Activate economy mode to optimize consumption.

In short, you'll minimize the frequency of charging cycles, and therefore electricity costs.

Also read : 8 tips for reducing the energy consumption of an electric car

Recharge your vehicle between 20% and 80%.

We recommend not charging the battery to 100% to avoid premature degradation due to high cell voltages. But that's not all: your budget will appreciate it. In fact, the time required to charge from 80 to 100% is generally equivalentor even longer than that required to go from 20% to 80%. What's more, if the tariff calculation is based on time, and charging beyond 80% is not necessary, stop charging at that point.

So, opt for an 80% load and recharge only when necessary. You can also install a charge limiter to block charging at 80% or 90%.

Also read : Optimizing electric car charging at home

Compare rates for public charging stations

Before recharging your electric vehicle via a public charging point, don't forget to check and compare the charging rates offered on a regular basis, as these rates can change over time.

Unplug your vehicle when the battery is sufficient

In fact, many charging stations charging stations charge by the minute to encourage the rotation of electric vehicles. After a set period of time, some networks apply very high rates, so it's best to remember to unplug your vehicle to avoid an excessively high recharging bill.

Conclusion

While rising electricity prices are an undeniable reality, they don't have to spell the end of the electric car. By adopting a proactive approach and and adapting to new market realitiesit is entirely possible to continue to drive electric economically and responsibly.

For professional professionalsOptimizing recharging costs requires intelligent management of the electric fleet and the implementation of optimized recharging solutions. What's more, companies can make the transition to electric power a real boost to their performance and image, not to mention their obligation to comply with France's LOM law.

For individualsrising electricity prices underline the importance of energy efficiency and responsible charging behavior. Initiatives such as the installation of smart charging stations and the use of off-peak tariffs can help to mitigate the financial impact of these price changes.

In conclusion, the future of the electric car remains promisingall the more so as aid for the installation of charging stations are still available.

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Picture of Maëlle Laurent
Maëlle Laurent

Committed to sustainable mobility, a sector revolutionizing the way we get around, I contribute to the energy transition through my articles.

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