High diesel prices are strengthening the business case for electric heavy goods vehicles, with haulier Welch Group forecasting substantial long-term savings from electrifying its fleet and opening its charging infrastructure to other operators.
Analysis from New AutoMotive estimates that the surge in diesel prices since July is adding approximately £35 million a week to UK hauliers' fuel bills. The average forecourt price reached 199.9p per litre on 30 September, up 35p since 8 July.
Welch Group, which operates both diesel and electric HGVs, has developed its own financial model examining the economics of electrification and shared depot charging.
The modelled annual saving against a diesel-fleet comparison could reach approximately £792,000 by 2035, as its electric fleet expands and charging infrastructure is shared with other operators.
Chris Welch, CEO of Welch Group, said: “Diesel prices are proving that our decision to go electric was the right one. We're already seeing substantial savings on energy costs compared with diesel, and every increase at the pump makes the economics of electrification more compelling.
“But the opportunity goes much further. By opening our charging hubs to other operators, we can spread the cost of infrastructure and make our own electric trucks progressively cheaper to run. Our internal modelling suggests the savings could become increasingly significant as our fleet and charging network grow.
“This is about running a more efficient and competitive haulage business. Cutting emissions matters, but so does protecting our margins. The more electric trucks we put on the road, the greater the opportunity to do both.”
Welch Group’s internal model projects that the all-in cost of charging its own electric trucks could fall from approximately 42p per kWh in 2026 to 9.1p per kWh by 2035, assuming its planned fleet growth and shared charging activity materialise. The estimates include electricity and allocated infrastructure costs, and are sensitive to future energy prices, charging demand and utilisation.
These figures are Welch Group’s own forward-looking estimates, not independently verified savings or forecasts for the wider haulage industry.
Welch Group’s projections illustrate the potential for shared charging infrastructure to become a commercial asset for hauliers, rather than simply an operating cost.
By allowing other fleets to use depot charging facilities, operators could generate additional revenue, improve infrastructure utilisation and reduce the effective cost of charging their own vehicles.
Simon Smith, CEO of electric HGV charging specialist Voltempo, said: “Diesel at these prices changes the commercial conversation around electric trucks. For years, operators have been told that electrification means choosing between doing the right thing and making money. That choice is disappearing for a growing number of operations.
“Electric trucks, intelligent depot charging and competitively priced energy can give hauliers greater control over one of their biggest operating costs. Shared charging offers another opportunity to strengthen the economics by making better use of infrastructure.
“The opportunity isn't simply to replace diesel trucks with electric ones. It's to build a more efficient, resilient and potentially more profitable haulage business.”
Despite the potential savings, diesel continues to dominate the UK truck market. According to New AutoMotive's analysis, 97% of new trucks registered in 2025 were diesel, while electric trucks accounted for just over 1% of registrations during the first eight months of 2026.
The latest diesel price increases are bringing renewed attention to the economics of electrification, particularly for operators with predictable routes, access to depot charging and opportunities to secure lower-cost electricity.
For those fleets, the question is increasingly not simply how much an electric truck costs to buy, but how much it could save over its working life.
