Electricity Cost Formula:
From: | To: |
Definition: This calculator estimates electricity costs based on energy usage in kWh and the electricity rate in £/kWh.
Purpose: It helps UK residents and businesses estimate their electricity bills and understand energy costs.
The calculator uses the formula:
Where:
Explanation: The energy usage is multiplied by the electricity rate to calculate the total cost.
Details: Accurate cost estimation helps with budgeting, comparing energy tariffs, and identifying potential savings.
Tips: Enter your energy usage in kWh and electricity rate in £/kWh (default 0.34). All values must be > 0.
Q1: Where can I find my energy usage?
A: Check your electricity bill or smart meter for kWh consumption data.
Q2: What's the current average UK electricity rate?
A: As of 2023, the average is about 34p (£0.34) per kWh, but this varies by supplier and tariff.
Q3: Does this include standing charges?
A: No, this calculates energy costs only. Add your daily standing charge separately.
Q4: How can I reduce my electricity bill?
A: Consider energy-efficient appliances, switching suppliers, or using energy during off-peak hours.
Q5: Does this account for VAT?
A: No, VAT would need to be added to the calculated amount (typically 5% for domestic energy).