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While the MPGe system of measurement is silly, it still gives a relative estimate of the cost to operate the vehicle a given distance.
I exceed the EPA estimates for MPG in all of my vehicles by 20-40%.
Assuming a very conservative 3 miles per kWh (actually observing 3.2 mi/kWh) in my Prius plug-in, my real world MPG equivalent in terms of cost per mile from wall to wheels is 124 MPG. That's a 31% improvement over the EPA estimate of 95 MPGe, which is right in line with how much better I generally do over EPA figures.
While my electricity rate is among the lowest in the country, the rate would have to be 4x my cost, or $0.32/kWh, before driving a 30 MPG vehicle would break even in fuel cost. Even with fuel prices as low as they are, I still pay about $0.04/mile in gas to drive the Prius in hybrid mode. In EV mode, my cost is $0.02/mile.
My own calculus agrees with the EPA figures for informing the public of the relative cost of fuel to drive a given distance.
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