17

Rapid Charging Fund unspent after five years, creating industry investment uncertainty

Conclusion
In 2020 the Department announced the rapid charging fund, intended to future proof electricity capacity on the strategic road network in the longer term, by part–funding the capital costs of upgraded grid connections. However, nearly five years after its announcement, the Department has yet to issue any of its £950 million of funding.29 ChargeUK, which represents many of the companies installing charge points, stated that several months have passed with limited updates, creating unhelpful uncertainty, and clear direction on the status of the fund is needed for industry to plan investments with confidence.30 The Department stated that when this programme was first conceived, the world was very different and much more appetite for private investment has emerged since, and there have also been changes in how electricity upgrades are funded. The programme has also had to navigate competition concerns in the sector as well as the risk of legal 24 Q 63; C&AG’s Report para 12 25 Qq 63, 73 26 Q 76; C&AG’s Report para 13 27 C&AG’s Report para 11 28 Qq 29, 58–59; C&AG’s Report 2.17 29 C&AG’s Report Figure 7 30 EVS0015 13 challenge. These aspects mean that the programme’s original concept is probably not how it will work in the future, and the Department hopes to be able to provide more information shortly.31 Next steps in developing the public charge point network
Government Response

A response document is linked to this report, dated 16 May 2025. Response attribution to this conclusion has not been verified. Read the response document.

Addressee Bodies
HM Treasury
Timeline
Recommendation age 1.5 yrs
Report published 12 Mar 2025