"Electric cars are cheaper to run" is one of those claims that is true, false, and complicated all at once — depending entirely on where you charge. Plug in at home overnight and the savings against petrol are enormous. Rely on public rapid chargers and you might save almost nothing. Add in the road tax that EVs now pay from April 2025, plus insurance and depreciation, and the picture deserves an honest look. Here it is for 2026.
- Charged at home on an off-peak tariff, an EV costs about 2p a mile versus roughly 14p for a 45 MPG petrol car.
- Charged mostly on public rapids (60–85p/kWh), the cost can rival petrol.
- EVs now pay road tax (£195 standard) since April 2025 — the exemption is gone.
- Your home-versus-public charging split decides whether you actually save.
The number that matters: cost per mile
Strip away the noise and running cost comes down to one figure — pence per mile — built from two numbers: how far the car travels per kWh (its efficiency, typically 3 to 4 miles/kWh) and what you pay per kWh.
| Where you charge | Price per kWh | Cost per mile (at 3.5 mi/kWh) |
|---|---|---|
| Home, off-peak EV tariff | about 7p | about 2p |
| Home, standard cap rate | about 27p | about 8p |
| Public rapid charger | 60–85p | about 20p |
Now compare petrol. A 45 MPG car at £1.40 a litre costs about 14p a mile in fuel. So a home-charged EV is roughly seven times cheaper per mile, while a public-only EV is actually dearer than petrol. The whole argument lives in that table.
A full-year comparison
Take someone driving 9,000 miles a year who charges 80% at home and 20% on public rapids:
Energy used
9,000 ÷ 3.5 = about 2,570 kWh a year.
Home charging
80% at 7p = about £144.
Public charging
20% at 75p = about £386.
Total charging cost
about £530 a year.
The equivalent 45 MPG petrol car covering the same 9,000 miles burns roughly £1,270 of fuel. So this driver saves about £740 a year on energy alone. Our EV charging calculator lets you set your own split and tariff, and the fuel cost calculator does the petrol side.
The costs people forget
Energy is not the whole story. Three other lines can shift the verdict:
- Road tax. Since 1 April 2025, electric cars pay Vehicle Excise Duty — a £10 first-year rate then the £195 standard rate, plus the £425 expensive-car supplement if the list price topped £40,000 (which many EVs do). The free-tax era is over. Check yours on the vehicle tax calculator.
- Insurance. EVs can cost more to insure — pricier parts, specialist repairs and higher values. Always quote before assuming savings.
- Depreciation. This is the wild card. EV used values have been volatile, and a car that loses value faster can wipe out years of fuel savings. Buy wisely.
No home charger changes everything The entire EV cost advantage assumes cheap home charging. Without off-street parking and a home charger, you depend on public networks at 60–85p/kWh, and the running-cost case largely collapses. Be brutally honest about where you will actually charge before you buy.
Servicing: a quiet EV win
One area where EVs reliably save is maintenance. No oil changes, no cambelt, no exhaust, far fewer moving parts and regenerative braking that spares the brake pads. Servicing is typically cheaper and less frequent — a genuine, if undramatic, saving that adds up over years of ownership.
So, cheaper or not?
If you can charge at home on an off-peak tariff and you do average mileage, yes — clearly cheaper to run, often by £700+ a year on energy plus servicing savings, even after the new road tax. If you would rely on public rapid charging, the honest answer is probably not — you would buy an EV for the driving experience and emissions, not to save money. The deciding factor is not the car. It is the plug you use.
Frequently asked questions
On a standard tariff, about 8p a mile; on a dedicated off-peak EV tariff around 7p/kWh, roughly 2p a mile — far cheaper than petrol at about 14p a mile.
Yes. From 1 April 2025 EVs pay Vehicle Excise Duty — a £10 first-year rate then £195 standard, plus the expensive-car supplement if the list price was over £40,000.
It can be. Rapid public chargers often cost 60–85p/kWh, working out around 20p a mile — similar to or more than petrol. Home charging is where EVs save.
Generally yes. With no oil, exhaust or cambelt and fewer moving parts, EV servicing is usually cheaper and less frequent than for a petrol car.
If you charge mostly at home on an off-peak tariff, very likely. If you depend on public rapids, probably not — weigh insurance and depreciation alongside energy before deciding.
Figures are 2026 estimates and vary with tariffs, driving style, weather and model. Treat the calculators as a guide and get your own insurance and charging quotes.