FastNed switching to kWh billing model in May

Fastned will change billing at its mainland European fast-charging stations to kWh prices on 1 May. At all Fastned charging points in Germany, 59 cents per kilowatt hour will be charged starting next month, while in their native Netherlands, they are already offering the same deal.

The model replaces the flat-rate price of 7.50 euros per charging process applicable in Germany. For the Netherlands, the web page has already been updated to account per kilowatt-hour. So far, EnBW had been the first company in Germany in the field of kWh-accurate billing. It had already completed the conversion on 1 March.

But back to Fastned: Alternatively to the price of 59 cents per kWh, it will also be possible to enter a “Gold” membership, which charges a basic price of 11,99 euro per month for 35 cents per kWh. As a Gold Member, however, charging and paying will only be possible with a credit or bank card and wont be possible with an EV charge card.

At the end of the first quarter of 2019, Fastned reportedly expanded its network to 90 stations. Since the beginning of the year, five new stations have been added – in Gladbeck and Melle West, Nijmegen, Pilsting and Oudenhorst. Furthermore, in Q1 of this year, the Dutch company more than tripled its sales year-on-year to 844,000 euros. In the process, 1,520 MWh of electricity were sold (+215% compared to Q1/2018).

In order to create the conditions for further strong expansion, Fastned plans to be listed on the Amsterdam Euronext exchange in the first half of 2019. “This listing will create additional funding flexibility and will offer more investors the possibility to invest in the mega trend towards electrification of mobility”, said Fastned CEO Michiel Langezaal. The company has plans to eventually build a European network with over 1,000 fast charging stations.

The company is currently preparing to expand into Great Britain, Belgium and Switzerland in parallel. The Dutch company recently won a second tender in Great Britain. It involves the installation of five rapid charging sites in the south-east of England, with Fastned already in the process of setting up two stations in Newcastle and Sunderland. In Switzerland, the company is also the only foreign manufacturer to have been awarded the contract by the Federal Roads Authority (FEDRO) to build fast-loading stations at Swiss rest stops.

fastned.nl (Prices in German), fastned.nl (Profit), prnewswire.co.uk (Stock market)