Osprey announces price reduction.

We are pleased to announce that Osprey will be reducing the price for our rapid EV charging network, to 79p/kWh, effective from 1st November 2022. 
We are passing on a saving enabled by the Government’s Energy Bill Relief Scheme.

Why is this only happening now?

The price that you pay at the charger is comprised of the cost of electricity, the cost of installing infrastructure, the operation and maintenance of the charging network, plus 20% VAT on top.

As has been widely reported, the unprecedented electricity wholesale prices in 2022 have driven up the cost of electricity sold to businesses, such as Osprey, by their energy suppliers (at times by over 600%). In September, the Government therefore announced an Energy Bill Relief Scheme to subsidise the wholesale cost of electricity for energy suppliers – resulting in savings they would then pass on to their business customers.

The mechanics of this scheme became clearer during October.

• It does not guarantee a fixed or capped unit rate per-kWh for businesses; the price is still calculated by the energy supplier and factors in existing wholesale contracts and future market forecasts.
• Energy suppliers also add on non-commodity costs, their own running costs and margin on top of wholesale electricity, to determine the price that businesses like Osprey pay.

The team at Osprey have been working diligently throughout October with our energy supplier to further clarify what this reduction looks like for us. We have now achieved this reduction and are fulfilling the promise we made last month and passing on a saving to our customers immediately.

So what’s next?

Our focus is on continuing to build charging infrastructure for the future. Over the next two years alone Osprey will invest over £50 million expanding its GB-wide public charging network, establishing the much-needed national infrastructure that you can trust and rely on.