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Specifically, this was due to a colder European winter in 2020 to 2021 and a relatively windless summer.
The UK also imports more than two-thirds of its gas which is subject to global price swings making prices more volatile and likely to rise.
How is my energy bill calculated?
It’s not just your gas and electricity usage you’re paying for when it comes to energy bills.
Energy bills are made up of a number of costs.
They’re not just the gas and electricity you use. They include:
Wholesale costs â these are what you pay for the energy bought to supply your home or business.
Network costs â these are for the gas pipes and electricity cables that carry energy across the country into your home.
Social and environmental obligations â larger suppliers have to help pay for government energy policies.
Other direct costs, such as meter maintenance and installations.
Supplier operating costs and margin.
Taxes, like VAT
These costs are covered by something known as the standing charge.
This is a flat fee per day that you pay on top of the kWh usage.
Even if you use no energy at all you still have to pay the standing charge.
How do I calculate my energy costs?
To calculate how much you pay, you will need to find out both your unit rate for gas and electricity and the standing charge for each fuel type.
The unit rate will usually be shown on your bill in p/kWh.
The standing charge is a daily charged that is paid 365 days of the year â irrespective of whether or not you use any gas or electricity.
You will then need to note down your own annual energy usage from a previous bill.
Once you have these details you can work out your gas and electricity costs seperatly.
Multiple your usage in kWh by the unit rate cost in p/kWh for the corresponding fuel type â this will give you your usage costs.
You’ll then need to multiply each standing charge by 365 and add this figure to the totals for your usage â this will then give you your annual costs.
But if this is too much maths for you, you can use an online calculator like the one offered by MoneySavingExpert.com to find out how much you’ll pay from October.
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