Why EVs Are the Smarter Choice: Comparing Running Costs of Electric vs Petrol Cars
As the UK moves towards a more sustainable future, electric vehicles (EVs) continue to gain popularity. With rising fuel prices and increased awareness of environmental impact, many drivers are now considering the switch from petrol to electric. But just how much can an EV save you? A recent analysis by Andersen, a leading UK EV charging brand, has revealed significant cost advantages for EV owners.
Andersen’s latest research highlights a pronounced difference in the cost of owning and running an electric car versus a petrol-powered model. On average, an EV driver spends £1,154 per year, which is 50.2% less than the £2,316 required for a petrol car.
Fuel vs Charging: The Biggest Saving
The most significant difference lies in refuelling versus recharging costs. A petrol car driver covering 10,000 miles annually spends an average of £1,209 on fuel. In contrast, an EV driver who charges smartly at home using a dedicated EV tariff pays only £174 for the same distance.
For those accessing the cheapest tariffs at 5p/kWh, the annual home charging cost can drop even further to just £115. Even if 8% of charging takes place on public ultra-rapid networks at a higher cost, EV drivers still pay significantly less than petrol drivers.
Servicing Costs: EVs Win Again
Another key area of savings is maintenance. EV servicing costs an average of £232 per year, compared to £295 for petrol cars. Over a five-year period, this translates into a third less spent on servicing, with EVs costing £3,857 compared to £5,514 for petrol vehicles.
Insurance and Road Tax Considerations
While EV insurance costs are currently higher than petrol cars—by an average of £125.81 per year—prices are on a downward trend. Insurance costs for EVs fell by 18% in 2024, with expectations for further reductions as more drivers transition to electric.
Another major benefit is road tax. Currently, EV drivers pay zero road tax, while petrol cars incur a minimum of £190 annually. However, from April 2025, new EVs will be subject to a £10 road tax in the first year, and £190 annually thereafter—still a highly competitive rate compared to many petrol cars with higher emissions.
The Verdict: Why Make the Switch to EV?
The financial benefits of driving an EV are clear:
Fuel savings: Up to £1,034 annually when charging at home
Lower servicing costs: EVs cost a third less over five years
Zero or reduced road tax: Big savings compared to petrol cars
Falling insurance costs: As EV adoption rises, premiums are becoming more competitive
Power Your Future with Optima Electrical Training
With such clear cost benefits, there has never been a better time to switch to electric. At Optima Electrical Training, we offer specialist EV training courses designed to equip professionals with the skills needed to thrive in the growing EV sector. Whether you're an electrician looking to expand your expertise or an industry newcomer, our courses will give you the knowledge and certification needed to excel.
Make the switch, save money, and power up your career.
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