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Energy Cost Formula:
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The Martin Lewis Energy Comparison Calculator helps consumers compare energy costs based on kilowatt-hour consumption and energy rates. It follows the simple principle of calculating energy expenses to help users make informed decisions about their energy providers.
The calculator uses the basic energy cost formula:
Where:
Explanation: The calculation multiplies your energy consumption by the rate charged by your energy provider to determine the total cost.
Details: Calculating energy costs helps consumers understand their energy expenses, compare different energy tariffs, and potentially save money by switching to better deals. Regular monitoring can also help identify unusual consumption patterns.
Tips: Enter your energy consumption in kWh and the current energy rate in GBP per kWh. Both values must be positive numbers. The calculator will instantly show you the total energy cost.
Q1: Where can I find my kWh consumption?
A: You can find this information on your energy bill or smart meter. Most energy providers also offer online portals where you can track your consumption.
Q2: How often should I compare energy rates?
A: It's recommended to compare energy rates at least once a year, especially when your fixed-term contract is about to end, to ensure you're getting the best deal.
Q3: Are there any additional charges not included in this calculation?
A: Yes, energy bills may include standing charges, taxes, and other fees. This calculator focuses on the consumption-based cost only.
Q4: Can I use this for both electricity and gas?
A: Yes, the formula works for both electricity and gas, though gas is typically measured in kWh after conversion from cubic meters.
Q5: How accurate is this calculator?
A: The calculator provides an accurate estimate based on the inputs provided. For exact billing amounts, always refer to your actual energy bill.