Fastned – known for the fast chargers along the Dutch highways – will increase the rates per kWh as of 11 November 2021. For years that was 0.59 euros, but due to the higher electricity rates, the price per kWh rises to 0.69 euros.
The price increase of approximately 17 percent applies to the Netherlands and Belgium. What impact will this have on the wallet? Just add a calculation example, that’s so easy.
A calculation example
Imagine you stop at a Fastned fast charger and it consumes 30 kWh of electricity. With a rate of 0.59 euros you previously had to pay 17.70 euros. With the new rate of 0.69 euros per kWh, you pay 20.7 euros for the same 30 kWh. So a price difference of three euros. This in turn means that the price per kilometer driven increases slightly.
Electricity prices on the wholesale market have risen significantly over the past period. Fastned has partially hedged against this increase by selling HBEs (Renewable Fuel Units). In addition, Fastned has full control over the sales price. In October, the company wrote that it was considering moving to a more dynamic pricing strategy that would better track fluctuations in the European wholesale electricity market. With the price increase from 0.59 to 0.69 euros per kWh, Fastned is putting its money where its mouth is.
Fastned is growing like cabbage
Fastned saw its revenues related to charging rise by 96 percent to 3.2 million euros in the third quarter of 2021, compared to 1.6 million euros in the same quarter of last year. The results for the third quarter were realized thanks to strong sales of electric vehicles in all markets in which Fastned is active. Fastned is sticking to its goal of realizing 45 or more stations by 2021 and, based on the current construction planning, even sees the possibility of realizing up to 55 stations.
Expand number of chargers
The target for the number of chargers has been revised to 160 new chargers installed at existing stations instead of 200. This is due to an increased focus on the construction of new stations, delays in the delivery of grid connections and the change to a more comprehensive plan for expanding stations in Germany, scheduled for Q1 2022. By the end of the year, the network will reach between 176 and 186 stations (excluding 11 converted MisterGreen locations) and between 750 and 800 chargers.