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1.5 Perfect competition, imperfectly competitive markets and monopoly

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Question 8

Context B: The UK Electric Vehicle Charging Sector

Extract B

Figure 1: Average cost per kWh for a public rapid DC charge (50kW+), January 2025

Charging NetworkCost per kWh (p)
EcoVolt45.0p
SparkNet48.5p
JuiceLoop52.0p
VoltSpark58.0p
ElectroDrive63.5p
ChargeGrid69.0p
PowerPulse74.0p

Figure 2: Market shares of public rapid charging networks in the UK, 2017–2025 (%)

YearChargeGridVoltSparkElectroDriveEcoVoltIndependent/Others
201742261895
20193924171010
20213522161116
20233220151122
20252918141227

Explain how the data in Extract B (Figure 2) show that the UK public rapid charging network market is competitive.

[4]

1.5 Perfect competition, imperfectly competitive markets and monopoly Questions

  1. A Level
  2. /Economics
  3. /1.5 Perfect competition, imperfectly competitive markets and monopoly