As you know, our freight shuttles are powered by electricity which provides you with the greenest possible option to cross the Channel for your trucks and goods. It has so far protected us from the variations in the price of oil.
The situation has changed recently with the restart of economies and even more recently with the current instability in Eastern Europe. The petrol price has never been so high and all energies now see prices rising sharply, including electricity.
The cost of our electricity has increased significantly: while the average spot rate of electricity was 32€/MW in 2020, it climbed to 109€/MW in 2021 which is a massive increase for our running costs.
We know how you are impacted by the increase in fuel prices in your own operations. Ferries using fossil fuels are also feeling the impact and, a few years ago, put in place a mechanism called BAF to remediate the rise of their energy cost. While we have so far been able to avoid such a measure on our service, in the current context it is no longer possible for us to absorb the full additional cost of electricity for transport.
From 1 April 2022, an Electricity Value Adjustment (EVA) will be added to your invoice, separated from your crossing price, so that you can pass it more easily to your customers as you do for your own fuel elements. Its value will be the same for all vehicles on all accounts at 10€/£9 per crossing for all vehicles from 7.5m upwards, and 5€/£5 for lower size vehicles. Please advise your teams and accounting services of this change in future invoices as referenced on https://www.eurotunnelfreight.com/fee.
This EVA will be valid until further notice. It is intended to stay at this level over the next few months, as long as the context does not worsen. We will endeavour to give you a month notice period should we have to change its value in the future. We will also look for any opportunity to reduce or stop the EVA if the energy price situation improves.
We are very conscious that it is not a pleasant change and we have done everything we could to avoid having to introduce this adjustment. We are now forced to resort to this measure in order to continue providing you with the quality service that you expect when using Eurotunnel Le Shuttle Freight. The EVA is our equivalent to the BAF of the ferries, although at a significantly lower level.
Thank you for your understanding and for the trust you continue to have in our service.