Tuesday, December 7, 2021

FastNed raises EV charging prices in Europe, blames high energy prices

The fast-charging provider Fastned is increasing its prices in several countries in continental Europe. The new prices come into effect on 11 November 2021. The price increase is an response to increasing overall energy prices, despite the fact that FastNed exclusively uses renewable energy.

The Company also mentions that they have to increase prices because of their expansion plans.

“We don’t like to do this.” Fastned says. “In fact, we take great pride in the fact that we have kept our prices fixed for five years now while installing much faster chargers, making your charging stop ever more convenient. But in order to keep doing so, it is important that we act on this reality.”

In Germany the kWh price will rise to 69 cent. The price in Germany used to be 59 cents per kilowatt-hour.

The prices for Gold Members will also rise but slightly later on the 1 December 2021: in Germany from 35 to 45 cents per kWh. The monthly basic subscription fee remains unchanged at 11.99 euros.

The Netherlands and Belgium will also be charged 0.69 euros per kWh starting 11 November . In Switzerland, prices rise to 0.69CHF per kWh, in the UK 0.39 pounds per kilowatt-hour. In France, where the first stations are due to open shortly, Fastned plans to charge 0.59 euros per kWh. Further adjustments are possible in the near future, depending on the overall geopolitical situation.

This could drive prices either up or down. Here the company says:

“We will review this again when the situation changes.”

Fastned’s price adjustment does not come as a complete surprise since just last month, the Dutch company announced that it was considering a “more dynamic pricing strategy” to reflect price trends on the European wholesale electricity market when it presented its third-quarter financial figures.

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Fastned is still emphatic about the fact that it only uses electricity from renewable sources at its charging stations but explains that the wholesale price of electricity is “still strongly linked to gas prices”, presumably putting more pressure on the renewables market.

So the situation in the gas market has a very direct impact on electricity and charging prices because of lower gas production in the Netherlands, lower gas imports from Russia, increased energy demand in Asia.

FastNed has indeed kept their prices stable for a long time until now. Back in 2019, the old prices were still in use when the company changed billing at its mainland European fast-charging stations to kWh prices.

Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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