BP Pulse has hiked the price of public charging by over 30% due to the unprecedented rising cost of wholesale energy.
From December, BP Pulse will raise prices from 23p to 32p for standard public chargers (AC 43kW/DC 50kW) and from 29p to 38p for registered users.
This means a 30kWh top up at a standard public charger that would have cost £6.90 will now cost £9.60.
The firm’s 150kW chargers will now cost 38p per kWh for subscribers, 44p for registered users and 50p for PAYG users.
These price increases represent a 30% average price increase, which is significant by any measure. BP Pulse was already the second most expensive public charging company in the UK before the announcement.
We recently published an infographic covering the most expensive public chargers in the UK as of November 2021.
With no signs of wholesale energy costs petering out, many of the other biggest names in public charging may also be forced into raising prices to keep services profitable.
From December, Instavolt will raise prices from 40p per kWh to 45p per kWh – a small increase compared to BP Pulse, but not insignificant. It means a 30kWh top-up increases from £12 to £13.50.
As wholesale energy prices continue to increase, drivers should brace themselves for higher electricity costs.
Higher wholesale energy prices mean fixed energy prices can become unprofitable for energy suppliers, which is why we are seeing smaller energy suppliers go bust.
Source: BP Pulse.