Transport migration in danger?: Boom in electricity prices makes e-mobility more expensive

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Prices continue to rise in Switzerland. Prices of everyday goods in Switzerland were 1.5 percent higher in January 2024 than in January 2023, according to the latest Comparis consumer price index.

This is especially noticeable when it comes to electricity. After last year’s sharp price increase of 25.5 percent, electricity prices increased significantly again in January this year – plus 17.8 percent! There has been an increase of nearly 50 percent in the last two years.

Electric cars are getting more expensive

Electric car owners are also feeling the effects of this development. Of the 255,981 new passenger cars registered in Switzerland last year, 20.7 percent were fully electric cars. Rising electricity prices, as well as the loss of benefits including exemption from car tax, have been troubling the sector since the beginning of the year.

At the same time, gasoline and diesel prices have increased by only 1.5 percent in the last two years. There was a decrease of 2.9 percent compared to the previous month.

“Over the entire ownership period, electric cars are generally cheaper than cars with conventional combustion engines. “But the gap has narrowed as electricity costs are rising rapidly,” says Comparis financial expert Dirk Renkert.

The extent to which the development will pose an obstacle to the planned transportation transformation depends on other cost factors. These include lower service costs. Here too, Renkert says, electricians are still ahead.

Otherwise it would become more expensive or cheaper

Cocoa and chocolate powder prices have also become more expensive by a whopping 11.3 percent. Price growth was also strong in postal services (+8.7 percent), financial services (+8.1 percent) and sweet drinks (+6.3 percent).

Heating prices (gas, heating oil, firewood and district heating) have become cheaper. These decreased by 10.7 percent compared to the previous year. However, the long-term average is still high. The prices of toys and hobby products (-4.4 percent), private transportation services (-3.5 percent), white wine (-3.1 percent) and, as mentioned before, fuel (-2.9 percent) also became cheaper.

Looking beyond national borders, inflation in Switzerland appears to be lower than in the euro area compared to the same month last year.

Source :Blick