Electricity Cost Formula:
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Definition: This calculator estimates the cost of electricity usage based on appliance power, usage time, and current electricity rates.
Purpose: It helps UK residents understand and predict their electricity expenses for better budgeting and energy management.
The calculator uses the formula:
Where:
Explanation: The formula converts watts to kilowatts (dividing by 1000), then multiplies by hours and the rate to get total cost.
Details: Understanding electricity costs helps with budgeting, identifying energy-hungry appliances, and making informed decisions about energy usage.
Tips: Enter the appliance power in watts, usage time in hours, and electricity rate (default £0.34/kWh). All values must be > 0.
Q1: Where can I find my electricity rate?
A: Check your energy bill or contact your supplier. The default uses the UK average of £0.34/kWh (2023).
Q2: How do I find an appliance's power consumption?
A: Check the label, manual, or use a plug-in energy monitor. Typical examples: LED bulb (10W), laptop (50W), kettle (3000W).
Q3: Does this include standing charges?
A: No, this calculates usage costs only. Standing charges are fixed daily costs on your bill.
Q4: Can I calculate monthly/annual costs?
A: Yes, multiply daily usage by 30 for monthly or 365 for annual estimates.
Q5: How accurate is this calculator?
A: It provides estimates. Actual costs may vary due to tariff changes, VAT, or appliance efficiency variations.