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UK: The end of hybrid and electric autos, gasoline is the way to go now
  • With unprecedentedly high electricity prices in the UK in 2021, it has become more profitable for hybrid car owners to fill up with gasoline instead of charging at electric stations, according to a Citibank review. It notes that in the WB, the use of an electric car now costs 50% more than cars with an internal combustion engine. And the owners of hybrids no longer charge them at electric stations, but go to gas stations.

    “For most of the past two years, we have been running our hybrid car in electric mode (the 9.7kWh battery lasted about 15km), but not now. I will drive to the gas station until electricity prices return to their previous levels, ”the authors of the review write.

    This situation developed in the second half of 2021 against the backdrop of an unprecedented increase in electricity prices in the European Union and the World Bank due to the energy crisis that broke out there, heated up by expensive gas, which powers thermal power plants. According to the Nord Pool energy exchange, on January 14 (prices are formed a day ahead), 1 MWh in the UK cost 373.2 euros, while on January 1, 2022 - 82.9 euros per 1 MWh.

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  • The growing gas crisis in the UK could last another two years, warned the head of British Gas.

    Market conditions suggest that high prices will continue for at least the next 18 months, said Centrica chief executive Chris O'Shea.

    "The market assumes that high gas prices will continue for the next 18 months or two years."

    "There is no reason to believe that energy prices will fall anytime soon."

    It will be very bad for electricity prices.