Recently, it’s been impossible to ignore the news that the UK’s energy price cap has risen by a record high of 54%.
This means that energy suppliers are now able to charge up to 54% more for their energy, both in terms of unit cost and standing charges.
This change has affected everyone throughout the country and caused significant worry to many homeowners and business leaders alike.
For some business owners, particularly those managing electric fleets, the worry is that the cost of electricity rising will mean bills that they simply can’t afford to pay.
If you’ve taken on a fleet of vehicles powered by electricity, then you might be especially concerned that they are no longer as cost-effective as you once thought they were.
Whether your business has just started its EV journey or has already got an extensive fleet of electric vehicles, the rising electricity prices might be a frightening thought.
At Clarke EV, we understand how daunting this prospect might be to fleet managers and business owners, but we also know that it will have less of an impact on your company costs than you might think.
That’s why we’ve put together this guide to help you understand how the rise in energy prices will impact electric fleets over the months and years ahead.
Savings Still Outweigh The Rising Prices
While the rising cost of electricity is a concern for electric vehicle drivers, the benefits of this cutting-edge technology still outweigh the price increases.
That’s because petrol and diesel prices are also rising steadily, and because many electric vehicles are energy efficient and get strong mileage per unit of fuel, you can still save money. Also, used ICE car prices are rising making an EV a more attractive option.
As such, while every fleet manager has something to be concerned about in 2022, the rising price of electricity shouldn’t put you off from continuing to expand or convert your fleet to electric vehicles.
Every Electricity Provider Is Different
While the cost of electricity is rising, providers still have the option to avoid increasing their prices or to offer discounts to support and entice new customers.
So, if you’re concerned about the increased cost of running your electric fleet, you should explore the suppliers on the market and see which one offers the best deal on business electricity.
Use price comparison sites to check out the basic rates for business electricity supply. If you’re already on a fixed rate then you might have to wait to switch to a new provider, so keep an eye on when you’re current tariff ends.
In some cases, you might be able to negotiate an even better deal by talking directly to an energy supplier, so don’t be afraid to contact them and ask for the best possible price for your electricity.
By being flexible and taking the time to explore all the energy suppliers on the market, you could save your business money when it comes to powering your electric vehicle fleet and on other costs as well.
Companies Can Explore Savings Elsewhere
While your company might not be able to do anything about the rise in energy prices, there are other areas of your fleet management spending that you can control.
For example, if you’re currently buying all of your electric vehicles outright, then you could explore providers that offer bulk ordering deals. You could also consider switching to leasing EVs rather than buying them outright.
Even a small reduction in your electric fleet management costs can make a major difference to your business’s finances, so explore all the options to find out where you could save money.
There Are Many Grants Available To Help Fund Electric Vehicle Fleets
To adapt to the price rises associated with running a fleet of EVs, your company should check out the Government grants and help available.
There are many grants and other financial incentives, such as no or low-interest loans and discounts, that can help you to weather the rise in electricity prices and expand your fleet further. Can we give one or two examples?
Some of these financial incentives are provided by the UK government, but others might be offered by companies directly. If you don’t know what’s available, you won’t be able to apply for it, and most of these grants and incentives aren’t provided automatically.
So, it’s crucial that you stay up to date with the latest developments in the EV funding landscape and find out about new ways you could potentially reduce your expenditure.
Follow Clarke EV’s blog to find out more about the latest developments across the UK’s electric vehicle market, including new grants that your business might be eligible to apply for.
You’ll then be able to get access to all the money that’s available to you and use it to help offset the rising costs of electricity.
Choosing The Right Charging Units Is More Important Than Ever Before
As this article highlights, while the rising cost of electricity will be a challenge for many businesses with electric vehicle fleets, it isn’t as insurmountable as you might initially expect.
There are many ways to adapt to ensure that your business continues to flourish and make the most of cutting-edge EV technology over the years to come.
Our final tip to help you to reduce the cost of running your EV fleet is to choose the right charging points for your business vehicles.
Cutting-edge fleet charging units can help you to ensure that your vehicles are charged quickly and as efficiently as possible.
Efficient charging means that you’ll reduce the amount of electricity that your charging points use without compromising on the performance of your electric fleet.
For businesses running electric fleets, Clarke EV has the expertise and innovative technology to drive your organisation forward towards success and embracing the benefits of electric vehicles.
Get in touch by calling 0800 170 0276 or sending us an email on firstname.lastname@example.org to find out more about our electric fleet management and workplace charging solutions and how they could benefit your organisation.