Cost per Mile Formula:
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Definition: This calculator estimates the running cost per mile for electric vehicles in the UK based on energy consumption and electricity rates.
Purpose: It helps EV owners and fleet managers understand and compare operating costs of electric vehicles.
The calculator uses the formula:
Where:
Explanation: The energy consumption is multiplied by the electricity rate to determine the cost to drive one mile.
Details: Understanding cost per mile helps with budgeting, comparing EVs to petrol/diesel vehicles, and evaluating charging strategies.
Tips: Enter your vehicle's energy consumption (typically 0.25-0.40 kWh/mile) and your electricity rate (default £0.34/kWh UK average). All values must be > 0.
Q1: How do I find my EV's energy per mile?
A: Check your vehicle's dashboard (often in the energy consumption section) or manual. Many EVs display kWh/100 miles which you can divide by 100.
Q2: What's the average electricity rate in the UK?
A: As of 2023, the average is about £0.34/kWh, but this varies by tariff, time of use, and charging location.
Q3: Does this include other costs like maintenance?
A: No, this calculates only the energy cost. Maintenance, insurance, and depreciation are separate costs.
Q4: How does this compare to petrol/diesel costs?
A: EVs typically cost 3-5p/mile for energy vs. 12-20p/mile for fuel in conventional vehicles.
Q5: Can I use this for hybrid vehicles?
A: Only for electric-only miles. For hybrid mode, you'd need to account for both fuel and electricity costs.