Electricity Cost Formula:
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Definition: This calculator estimates the cost of electricity based on energy consumption in kWh and the current electricity rate.
Purpose: It helps households and businesses in the UK estimate their electricity bills based on usage.
The calculator uses the formula:
Where:
Explanation: The energy consumption is multiplied by the current 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 consumption in kWh and the electricity rate (default 0.2573 £/kWh). All values must be > 0.
Q1: What is the current UK electricity rate?
A: The default rate of 25.73p/kWh (0.2573 £/kWh) reflects the July–September 2025 price cap.
Q2: Where can I find my energy consumption?
A: Check your electricity meter or recent energy bills for kWh usage.
Q3: Does this include standing charges?
A: No, this calculates only the variable cost based on usage. Add your daily standing charge separately.
Q4: How often do electricity rates change?
A: The UK price cap changes quarterly. Check Ofgem for current rates.
Q5: Can I use this for business electricity?
A: Yes, but business rates may differ - use your specific kWh rate.