Posted on 09/03/2022 11:56:06 AM PDT by Fractal Trader
Charging electric vehicles in Britain soon will be more expensive than filling up gasoline-powered cars thanks to soaring electricity costs — an economic switcheroo that could be a harbinger of shrinking financial benefits for Americans who go green.
British energy regulators told electricity consumers to expect to pay 80% more beginning Oct. 1. The national price cap on residential electricity will send the average bill from about $190 per month to an estimated $343 per month, or more than $4,000 per year.
The shocking price hike stems from the nation’s limited reserves and Russia’s cutoff of one of the region’s major sources of electricity generation: natural gas. British energy prices eclipsed those of many other Europeans because the nation lacks domestic energy storage and production of natural gas, nuclear and renewables, making it more reliant on imports.
Kenny Stein, policy director of the Institute for Energy Research, warned that the financial hardship in Europe from rising energy prices is an omen for Americans if the U.S. transitions from fossil fuels to renewables faster than the supply can handle.
“For the U.S., this actually gets to an underlying fallacy of a lot of people that are pushing electric vehicles: They assert electric vehicles are cheaper because they assume electricity prices are going to stay cheap,” Mr. Stein said. “You’re combining the increased demands on electricity. That means you’ve got to build a new generation.”
[SNIP]
British electricity prices will nearly double from about 33 cents per kilowatt-hour to 60 cents per kilowatt-hour, making electric vehicles cost more before and after owners drive them off the lot. The average electricity cost in the U.S. is less than 11 cents per kilowatt-hour, according to the Energy Information Administration.
(Excerpt) Read more at washingtontimes.com ...
Gee......who saw THAT coming?
Perhaps they can get their money back.
Ha ha, that’s a joke.
“They assert electric vehicles are cheaper because they assume electricity prices are going to stay cheap,” Mr. Stein said.”
***
That’s why libs are idiots. They assume everything is free.
But it’s green energy and stuff.
With places like Wal-mart prices of 32 cents a minute for fast charging, that is expensive.
No worries, UK. Once everyone is an driving electric car, the price of electricity will go down. More demand means lower prices.
Oh, wait. That’s not how it works at all. Perhaps I should demand a tuition refund from my alma mater, the Al Gore School of Economics.
Bwahahahaha, now that is just too funny.
Most of these countries could be close to complete energy independent, but liberals ruin everything.
Surprise! Centralized control leads to the ability to punish everyone.
With places like Wal-mart prices of 32 cents a minute for fast charging, that is expensive.
and when it takes 8 hours ,LOL
Too get 900 miles of range with an ICE car you make two ten minute stops in any of the hundreds of places to get gas. Think of the time and hassle to do that with EV. Now it’s even going to cost you more.
I keep playing with the idea of getting one of those fat-tire electric scooters as I could charge it easily from the solar array if I ever needed to.. I could still get around town on the scooter and they are legal on the street without tags here.
The UK has lots of offshore natural gas.
Their offshore oil is running out.
The UK government wants to switch to electric cars to be able to power motor vehicles indirectly with UK-sourced natural gas rather than buying oil off the Arabs.
The UK’s Deep State doesn’t like freedom of movement any more than ours does.
Deep States just don’t want the hoi polloi driving.
Their next Mandate , you buy an EV or nothing
bet they wish they had hybrids now...
unintended consequences of stupidity
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