The biggest advantage of owing an electric vehicle just went down the drain

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The winter snow in Texas left people dead in their tracks. It has impacted even basic services like power and water and has left the Lone Star state crippled. People there are facing electricity bills as high as $17,000, which shows what a massive impact the storm has had on the day-to-day lives of the residents. The rocketed prices have affected EV owners, too, as Oilprice.com reports that charging a Tesla cost the owners around $900, which is almost 50 times more than how much it generally costs!

That’s Almost $2.75 For Every Mile Travelled

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With a Level 1 or Level 2 charger, charging a Tesla fully costs around $18 considering an average price of $0.14 per kWh. But, courtesy of the winter storm that left the wind turbines frozen and reduced the wind power-generating capacity, the prices shot up exorbitantly. “The wind-dependent Texas grid is experiencing rolling blackouts, prices the equivalent of $900 per Tesla charge, and an expected supply shortage of 10 GW—the amount of electricity needed to power 5 million homes,” Alex Epstein, Founder of Center for Industrial Progress, said in a tweet.

The publication noted that the spot electricity prices at the West hub soared from $25 for one mWh to $9,000 per mWh.

Taking 14 cents as the average price, the cost of running a two-year-old Model 3 is around 5.5 cents per mile.

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To give you a perspective, this is almost half of what a gas-powered BMW 3 Series would cost. But, with prices going almost 50 times higher, running a Tesla until things get better is going to cost you almost 25 times more than an average gasoline car. By average, we mean a BMW 3 in this context. Not the numbers current Texas-residing Tesla owners would be happy looking at. That said, we sincerely hope things get back to normal in Texas soon.

Sidd Dhimaan
Sidd Dhimaan
Associate Editor and Truck Expert - sidd@topspeed.com
Sidd joined the Topspeed.com team in 2017 as an intern and in less than a year he earned a full-time position as an associate editor and junior automotive expert. He is currently our pickup truck expert and focuses his attention on heavy-duty and off-road vehicles.  Read full bio
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