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Technology Stocks : The Electric Car, or MPG "what me worry?"

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From: Eric3/2/2018 10:38:04 AM
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EVgo Announces Lower DC Fast-Charging Prices

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  • March 2nd, 2018 by James Ayre

    One of the top electric vehicle fast-charging networks in the US, EVgo, has announced a new, cheaper pricing system, as revealed in an email sent to CleanTechnica.



    The new pricing system — split across 2 basic options: Pay As You Go and Membership — is effective immediately. It provides users with some of the lowest rates out as there, as regards electric vehicle (EV) fast-charging networks.

    The Pay As You Go option is based on a set per-minute rate, with no additional session fees; and the Membership option is based on a $9.99/month membership fee (which acts as a prepayment for the lowest-cost charging rate). Notably, charging session times have also now been expanded so as to allow for the full charging of large-capacity EVs in a single session.

    “The growth rate in the EV sector has been truly explosive over the last year, and EVgo is pleased to help accelerate EV adoption with a lower cost charging plan for our customers,” stated Cathy Zoi, the CEO of EVgo. “EVgo is already the market leader in fast charging, and demand for more public DC Fast charging solutions is only continuing to grow as battery capacities increase and EVs grow in popularity.”



    The email sent to CleanTechnica provides a bit more information: “EVgo’s new lower pricing will vary by region. Membership pricing is between $0.15 and $0.21 per minute, depending on the state, which is about as cheap or cheaper than the average gas-powered vehicle on a per-mile basis. This is not only good news for existing fast charging customers, but a major development for potential EV drivers without access to charging at home or work.”

    Those that live in apartments should be happy with the new pricing scheme … yet another example of the way that EVs are becoming more and more of a viable option for those without an attached garage.

    To provide a few more details:

    Ø Members pay between $0.18 and $0.21 per minute depending on charger location, and through June 2018, EVgo will offer a special promotional rate for chargers located in California of $0.15/minute for members.

    Ø Members can charge for up to 60 minutes during off-peak hours (charges initiating between 8:00pm-5:59am) and 45 minutes during the daytime.

    Ø Customers are not subject to any setup fees, flat session fees, or termination fees. There are no contracts, and EVgo Members can cancel at any time. For drivers who fast charge more than once a month, the plan pays for itself.

    Ø With the Pay As You Go rate there is no monthly commitment, and no session fee — customers only pay a simple per-minute rate of between $0.25 and $0.35 per minute depending on state, and through June 2018, EVgo will offer a special promotional rate for chargers located in California of $0.20/minute for Pay As You Go customers.

    Registration for the new plan can be done at EVgo.com

    evgo.com
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