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