TMC EV Rates

Our analysis shows that the government’s Advisory Electric Rate (AER) of 8p/m is not accurate for a number of electric vehicles, with some under-paid and some over-paid. The increase from 5p has not entirely solved the problem.

Our data team have calculated the cost per mile for each electric car available in the UK when charged at home. These are updated every quarter and this rate can be used to reimburse your drivers.
The calculations are based on the manufacturer’s published WLTP figures, with a 15% adjustment to account for real world driving. 
Following publication by the department for Business, Energy and Industrial Strategy (BEIS) of their estimate for 2022 average domestic electricity cost, we are using the home charging kW/h rate of 29p.
The research shows that around a third of electric cars are covered by HMRC’s AER of 8p/m. The more the charging rate increases (the price cap is currently at 34p/kWh, remember) the higher the cost per mile for electric vehicles and the more unsuitable the AER becomes.

We have also calculated the cost per mile for electric vans. The research shows that almost all electric vans aren’t covered by HMRC’s advisory electric rate of 8p and most electric van drivers will be left out of pocket. 

The van figures are also calculated using the home charging kW/h rate of 29p and based on the manufacturer’s published WLTP figures, with a 15% adjustment to account for real world driving.

Interested in more information on our TMC EV Rates?

We are on a mission to make business mileage reimbursement simple for businesses and electric vehicle drivers.  To find out how we can help you reimburse electric vehicle drivers for business mileage, click here.