Instavolt hikes charging prices for the fourth time in 10 months

Instavolt, one the UK’s biggest rapid charge point providers has announced that it will increase prices for the fourth time in 10 months. Boss Adrian Keen has written to customers to advise that from 15 August 2022, the cost of charging at an Instavolt unit will rise from 57p to 66p per kWh - an increase of 16%. 

As a result of the increase, a typical 10-80% fill up on a 58kWh Volkswagen ID.3 will rise from £26.44 to £30.62.

As with other charge point operators, Instavolt has been hit by an unprecedented rise in wholesale energy costs. Explaining the increase, Keen also added: “As a responsible business committed to the continued investment in the UK’s public charging infrastructure, we’ve taken the difficult decision to pass on some of these costs to consumers.”

Instavolt has now increased prices four times over the last 10 months. The recent increase to 66p per kWh means that customers are now paying 26p per kWh than they were last November when the price was just 40p per kWh. 

Instavolt is campaigning for the Government to address the issue of VAT liability on public chargers. The company argues that its current 20% rate is unfairly discriminating against drivers who are unable to charge at home, where domestic energy supplies are taxed at the lower rate of 5%. Instavolt points out that if the rates were equal at 5%, it would be able to lower the cost to 58p per kWh. 

Drivers will need to pay 66p per kWh to use one of Instavolt's rapid chargers from next week