Help needed working out a charge

gemstars

Hi,

This might seem obvious to most of you but this is my first go at working this out at my first house so I'd like to just check I'm doing it right.

I'm on an economy 7 tariff.

First set of readings:
Rate 1: 20468
Rate 2 element 1: 02990
Rate 2 element 2: 62579

Second set of readings:
Rate 1: 20585
Rate 2 element 1: 03006
Rate 2 element 2: 62608

The tariff I'm on charges (incl VAT):
first 728kWh per year 24.306p per kWh
additional kWh 16.160p per kWh
Night rate 4.515p per kWh

This is how I've worked it out
Rate 1: (20585-20468)x24.306= £28.44
Rate 2 element 1: (03006-02990)x4.515= £0.72
Rate 2 element 2: (62608-62579)x4.515= £1.31

Total for this period= £30.47

This may seem simple but if someone could just let me know if I'm on the right track I'd appreciate it.

Also, does anyone know what the element 1 and element 2 bit is about? I've been searching online and most websites say you should only have 2 readings; a day and a night rate.

Thanks

DVardysShadow

You are missing the dates of the 2 readings, so you can't tell how much of the 728kWh to charge at the higher rate.

gemstars

DVardysShadow wrote: »

You are missing the dates of the 2 readings, so you can't tell how much of the 728kWh to charge at the higher rate.

Thanks. I missed the dates out on purpose so that they didn't cause a bias or make people presume I've read the meter incorrectly.

The first one was taken on 28/08/09, the second on 26/09/09.

I thought the initial higher rate for the first 728 kWh meant the first 728 kWh of the day rate, and therefore the dates didn't matter. Have I got this wrong?

gemstars

*bump*

can anyone tell me if this is the way I should be working it out?

Thanks

DVardysShadow

gemstars wrote: »

Thanks. I missed the dates out on purpose so that they didn't cause a bias or make people presume I've read the meter incorrectly.

The first one was taken on 28/08/09, the second on 26/09/09.

I thought the initial higher rate for the first 728 kWh meant the first 728 kWh of the day rate, and therefore the dates didn't matter. Have I got this wrong?

As it is not an exact year, you take a proportion of the 728kWh [29/365 in your case] at the higher rate.

gemstars

DVardysShadow wrote: »

As it is not an exact year, you take a proportion of the 728kWh [29/365 in your case] at the higher rate.

Thanks for replying. I'm not sure I understand that exactly but overall does that mean that in that period the cost of electricity is actually less than the £30.47 I worked out? It seems awfully low for a month's use (not that I'm complaining, I just don't want any nasty surprises when the bill comes in )

gemstars

Well I've submitted my second set of readings and apparently I'm due a bill as even though I'm being billed quarterly I am still subject to their billing cycles (which I hadn't realised). So when the bill comes I'll find out if my workings out are correct.

I'll update then and consider switching.