Heating Cost Formula:
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Definition: This calculator estimates the cost of heating based on energy usage, unit price, and standing charge.
Purpose: It helps UK households and businesses understand and predict their heating expenses.
The calculator uses the formula:
Where:
Explanation: The energy usage is multiplied by the unit price, then the standing charge is added to get the total cost.
Details: Accurate cost estimation helps with budgeting, comparing energy tariffs, and identifying potential savings.
Tips: Enter your energy usage in kWh, current unit price (default £0.34/kWh), and daily standing charge (default £0.50/day).
Q1: Where can I find my kWh usage?
A: Check your energy bill or smart meter - it's usually shown as "kWh consumed" or similar.
Q2: What's a typical UK unit price for heating?
A: As of 2023, prices average around £0.34/kWh but vary by tariff and region.
Q3: Why include a standing charge?
A: Most UK energy tariffs include a daily fixed charge regardless of usage.
Q4: Can this calculate monthly/annual costs?
A: For monthly costs, multiply standing charge by 30. For annual, multiply by 365.
Q5: Does this include VAT?
A: No, add 5% VAT to the calculated cost for the total amount payable.