At what electricity price overnight charging at home gets more expensive than filling ICE with gas?

The "all-the-fees-included" price of electricity in our county increased to CAD0.40/kWh (checking last month's utility bill) from the previous CAD0.25/kWh.

One year ago, based on that time prices of electricity and gas, I calculated that charging our EV overnight at 40 cents/kWh would become as expensive as filling our second car (ICE) with gas.

It happened.

Though I never considered it seriously before, I will need to start looking at the EV as something that may not be the best long-term financial solution for my family. Once the EV is paid off, we may buy a hybrid as a more financially realistic solution to get the best of both worlds.

At what electricity price ($/kWh) would it be financially beneficial for you to return to gas?

 

Let us consider Hyundai Kona EV 2019 and Pontiac Pursuit 2005.

 

Copying the lines:

Used energy 341 kWh $21.11
Administration fee $5.71
Distribution charge $75.31
Transmission charge $16.88
Rate riders $5.83
Local access fee $5.67
Total: $130.51

GST: $6.53
All-in $137.04

$137.04 / 341 kWh = $0.40/kWh

All the fees and charges are variable and calculated on how much energy is used. The ratios do not change. The more power is used, the higher fees and charges are.

I checked several bills, all the fees and charges depend on the energy used. Nothing is fixed, unfortunately.

Checking the past bills, our most used monthly energy was $120.

In the last bill, the used energy ($21.11) makes 15.40% of All-in ($137.04).

Applying 15.40% on the past most used monthly consumption of $120, the total All-in would be $779.

If 15.40% is the "new normal" for future electricity bills, then I think that is not sustainable long term for us.

Unfortunately, this is a rural area.

I just checked the nearest FLO fast charger which is some 20 km faraway:

$0.25 (CAD) per minute SAE Combo (50 kW)

Maybe in the summer, it'd be cheaper to charge there, but it's not that convenient.

 

Your "$0.0619/kWh retail" is correct

but

your "about $0.08/kWh variable transmission/distribution/riders" is incorrect.

It is more like a $0.33 - 0.34 variable transmission/distribution/riders.

 

The distribution charge is the same day & night / 365. There is no peak / off-peak rate. It does not matter if you charge overnight or during day hours.

 

True, ATCO is known to be greedy.

 

There are no peak demand charges. The charges are the same 24-7-365.

 

You are right "really cheap gasoline".

That is why it may be cheaper to use gas at a certain "threshold" price for overnight charging.

 

The "all-the-fees-and-charges-included-price" has changed every month since August.

Some 5 cents/kWh per month. From 25 to 30, 30 to 35, and 35 to 40.

We will see where it stops.

 

I would not say the province is anti-EV. That is not the perception here. I would not buy an EV otherwise. It was a purely economic decision based on the financial calculation at that time.

Deregulation?

Travers Solar Farm (Canada's largest solar project) was built in Alberta rather than another province due to deregulation as one of the reasons.

Deregulation made the private $500M investment much easier.