I won't comment on geopolitics, but I believe (unfortunately) that the scales have tipped on global order.
Irrespective of geopolitics, I suspect we will see electricity prices come down and then go back up, for several reasons:
1. As more EVs charge on the grid, it will become further under strain. Assuming on average every house owns an EV, and that EV power usage is approximately the equivalent of one house, it would be like the population doubles in terms of pressure on the electrical grid. No country has that kind of spare capacity. They will have to cost infrastructure improvements to the electricity bill.
2. As less combustion vehicles are used, combustion-based taxes will reduce, and the green energy initiatives will lose this subsidisation. This loss will be put onto the electricity customers directly.
3. EVs are significantly heavier (cars: ~25%, sedans: ~30%, trucks/SUVs: ~150%) and cause more wear on infrastructure. That wear will directly correlate with the amount of electricity used, and will be the easiest way to introduce a tax to cover these costs. Costs associated to EVs will likely come from unexpected places, like the additional damage caused in a collision [1], and these will also directly correlate with electricity usage.
If anything the UK and EU appear to be near the peak of the EU sales percentage [2], if any Countries will see a decline in sales of EVs as a percentage of overall vehicles it would be those.
Irrespective of geopolitics, I suspect we will see electricity prices come down and then go back up, for several reasons:
1. As more EVs charge on the grid, it will become further under strain. Assuming on average every house owns an EV, and that EV power usage is approximately the equivalent of one house, it would be like the population doubles in terms of pressure on the electrical grid. No country has that kind of spare capacity. They will have to cost infrastructure improvements to the electricity bill.
2. As less combustion vehicles are used, combustion-based taxes will reduce, and the green energy initiatives will lose this subsidisation. This loss will be put onto the electricity customers directly.
3. EVs are significantly heavier (cars: ~25%, sedans: ~30%, trucks/SUVs: ~150%) and cause more wear on infrastructure. That wear will directly correlate with the amount of electricity used, and will be the easiest way to introduce a tax to cover these costs. Costs associated to EVs will likely come from unexpected places, like the additional damage caused in a collision [1], and these will also directly correlate with electricity usage.
If anything the UK and EU appear to be near the peak of the EU sales percentage [2], if any Countries will see a decline in sales of EVs as a percentage of overall vehicles it would be those.
[1] https://globalnews.ca/news/9587791/electric-vehicle-weight-s...
[2] https://ourworldindata.org/grapher/electric-car-sales-share