EV charging points network provider Osprey Charging has reduced its prices to 79p per kilowatt hour across its nationwide estate.
This reduction will be enabled from 1st of November 2022 by the Government’s Energy Bill Relief Scheme – a plan from the UK government that helps reduce energy bills for businesses. As widely reported, the unprecedented electricity wholesale prices in 2022 recently drove up the cost of electricity sold to businesses such as Osprey by their energy suppliers at times by over 600%.
“The team at Osprey has been working diligently throughout October with our energy supplier to get clarity on the government support to reduce the price burden on EV drivers,” said Ian Johnston, CEO of Osprey Charging. “We have now achieved this reduction and are fulfilling the promise we made last month and passing on a saving to our customers immediately.’’
The CEO further said their focus continues to be on building an EV charging infrastructure for the future that is accessible and safe for all. “Over the next two years we will invest over £50 million expanding our nation-wide public charging network, establishing the much-needed national infrastructure that all drivers can trust and rely on,’’ Johnston added.
The price that EV drivers pay at the charger comprises several aspects including the cost of electricity, the cost of installing infrastructure, the operation and maintenance of the charging network, as well as VAT at 20% for public charging, the company said. Energy suppliers also add on non-commodity costs, their own running costs and margin on top of wholesale electricity, to determine the price that businesses like Osprey pay, it added.