GeniePoint hikes electric car charging prices by 54%
The cost of charging an electric car at a charge point owned by GeniePoint rose by up to 54% as of 11:00am today (14 April).
UPDATE: Since we first published this story, GeniePoint has announced a reduction to its prices. From 15 May, on-peak rates (08:00 to 19:59) will be 79p per kWh, off-peak rates (20:00-07:59) will be 75p per kWh. This is a noticeable reduction compared to the rates that took effect in mid-April, but still a 32% increase for its 'off-peak' rate compared to its pre-mid-April price. See updated table below.
GeniePoint is the fourth-largest provider of rapid charge points in the UK, with 8.5% of all rapid chargers are owned by the company according to statistics published by Zap Map.
Rapid (or ultra-rapid) chargers are the fastest and most expensive way for electric vehicle (EV) owners to charge their cars.
Best electric cars for 2023: discover the models that aced our lab tests
GeniePoint price rise in detail
GeniePoint uses its 'GenieFlex' tariff across all its own chargers, which has both peak and off-peak rates. So those starting a charge between 8:00am and 19:59pm will pay 98p per kWh from today, an increase from 75p per kWh.
The new rates make it up to seven times more expensive than charging at home, or over twice as expensive per mile compared to the same sized petrol or diesel car (fuel costs only, ignores car tax and maintenance).
GeniePoint says the rise follows the Energy Bill Relief Scheme (EBRS) coming to an end on 31 March, and the cost of electricity therefore significantly increasing.
| Peak | Off-peak | |
|---|---|---|
| Charging session start time | 08:00 to 19:59 | 20:00 to 07:59 |
| Previous GeniePoint price | 75p per kWh | 57p per kWh |
| New GeniePoint price (from 11:00 on 14 April) | 98p per kWh | 88p per kWh |
| Price change | Increase of 23p per kWh (or 31%) | Increase of 31p per kWh (or 54%) |
| MAY UPDATE: New GeniePoint price from 15 May | 79p per kWh | 75p per kWh |
| Price change compared to pre-April 14 price | Increase of 4p per kWh (or 5%) | Increase of 18p per kWh (32%) |
What the new rates mean for EV drivers
Naturally the cost of charging an electric car is going to significantly increase if you use GeniePoint chargers.
Looking at class-average fuel efficiency from independent Which? tests, we've worked out the average price per mile for different classes of car for the various rates you can pay as an EV owner so you can see how GeniePoint's new rates compare.
We've also included the petrol and diesel equivalent price per mile comparison:
| Where you pay | Cost per kWh/cost per litre | Small car (per mile) | Medium car (per mile) | Mid/large SUV (per mile) | |
|---|---|---|---|---|---|
| New Geniepoint rates | Geniepoint peak rate (until 15 May) | 98p per kWh | 29.5p | 31.6p | 35.8p |
| Geniepoint off-peak rate (until 15 May) | 88p per kWh | 26.5p | 28.4p | 32.1p | |
| Public charging | Public rapid charging | 79p per kWh | 23.8p | 25.5p | 28.8p |
| Public rapid charging | 65p per kWh | 19.5p | 21p | 23.7p | |
| Public fast charging | 50p per kWh | 15p | 16.1p | 18.3p | |
| Home charging | At home - on peak/cheaper public chargers | 44p per kWh | 13.2p | 14.2p | 16.1p |
| At home - standard rate | 33.2p per kWh | 10p | 10.7p | 12.1p |
n/a = not enough diesel-powered small cars to create an average.
Petrol and diesel fuel costs from RAC Fuel Watch, all fuel efficiency figures from Which? tests.
Looking at the figures above, you can see that:
- Compared to those fueling petrol and diesel cars: GeniePoint's peak rate is twice as expensive (100-138% actual) per mile, or 78% to 114% more during off-peak hours.
- Compared to those charging at home on a domestic off-peak tariff: GeniePoint's peak rate is up to seven times more expensive or up to six times more expensive during GeniePoint's off-peak hours.
- Compared to those charging at home on a standard tariff: GeniePoint's peak rate is three times more expensive during peak hours, or approximately 2.6 times more costly during off-peak hours.
This is particularly significant for those who cannot access the cheaper charging rates by charging at home, and those who travel long distances and therefore more reliant on rapid chargers, such as the ones GeniePoint provides (GeniePoint also has a small number of non-rapid chargers).
Plus, as one of the few networks using peak and off-peak rates, this price hike adds more cost detriment to the potential confusion surrounding peak and off-peak tariffs on public charging networks. There is currently no consistency across networks as to which hours are peak or off-peak.
GeniePoint is also one of the networks that uses fees to dissuade consumers from overstaying at chargers. Consumers are currently charged £10 after 90 minutes, and another £10 every 90 minutes.
We have contacted GeniePoint for a response.
Will other charging networks raise their prices?
GeniePoint is the first major network to raise their rates this month that we are aware of, but they might not be the last.
We will continue to monitor rates from other networks.
Drive smarter and cut costs using our expert advice. Get our Cars newsletter – it's free monthly