The maths behind our cost per mile
You may have heard us talk about EV charging costing as little as 2p per mile. Here's what we've based that on.
- Home charging costs are calculated based on charging off-peak using Octopus Energy’s Intelligent Octopus Go - EV Saver
- As of 1st May 2026, the off-peak price is 7p per kWh
- This tariff is exclusively available to Octopus EV drivers
- The amount of electricity needed is based on the MG4 Premium Long Range. We took all the data on this model from the EV database
- We’ve assumed a usable battery of 61.7kWh and real world range of 220 miles
- Cost per mile = (price per kWh) × (usable battery size kWh)/real world range
- Actual charging costs will vary depending on the vehicle, tariff, charging behaviour, driving behaviour and external conditions.
Here's what we base our comparison with petrol costs on.
- We've based petrol costs on the RAC's Fuel Watch, which as of 1st May 2026 was £1.57 per litre
- The amount of petrol needed is based on on a VW Golf, assuming 45 MPG
- Actual fuel costs will vary depending on the vehicle, fuel source, driving behaviour and external conditions
A full charge at home costs just £4.32 in a typical EV, compared with £34.89 for same amount of miles in an equivalent petrol car.
- This calculation uses the same assumptions as above, comparing the cost of a full charge on the MG4 Premium Long Range which we've assumed will drive 220 miles.
- We've compare this with the cost to fuel a VW Golf to drive 220 miles, based on 45 MPG
Charge at home for as little as £160 a year, compared with £1,280 for petrol.
- This assumes the driver does 8,000 miles a year and uses the same calculations and cars as above
