Quick calc Gas units to £/p

Ant555

Can someone assist/confirm with this very simple cost calculation - for some reason im all over the place with it in my spreadsheet and my brain is simply refusing to comply.

If we assume my gas cost per kWh is a round figure of 5pence
My calorific value is 40.1

Start meter reading  26427.188, end reading 26427.591 (after all the showers this morning) - gives 0.403 m3  usage

Is the cost in this scenario  = 22.95pence? 

 (0.403*1.02264*40.1/3.6) x 5p

many thanks

BUFF

yes,

m3 × Calorific Value × 1.02264 ÷ 3.6 = kWh x unit cost kWh

MWT

Ant555 said:

Is the cost in this scenario  = 22.95pence? 

Yes, but keep in mind that the daily calorific value is not what will be used for your bill, that will use the average over the period covered by the bill.

So for the purposes of a close estimate, just multiply the m3 usage by 11.3 to get kWh and multiple that by your per kWh cost.

That will get you close enough for budgeting purposes.   

SAC2334

Gas is way over 5 p kwh unless you are very fortunate and have a great fixed deal in place. Most of us a paying the Energy Price Guarantee which for me with Octopus is 10.25 p /kwh (inc Vat ) , 28 p a day standing charge 

Leon_W

As a very loose calculation, if you are on the Energy Price Cap of around 10.5p per kwh. Every unit on your meter (if it's metric!) will cost you around £1.10p

 

MWT

SAC2334 said:

Gas is way over 5 p kwh unless you are very fortunate and have a great fixed deal in place. Most of us a paying the Energy Price Guarantee which for me with Octopus is 10.25 p /kwh (inc Vat ) , 28 p a day standing charge 

Still a good number of people likely to be on cheaper deals, Octopus Exclusive 24M Fixed May 2021 v1 at 3.13p for example, but yes, most didn't have the luck/foresight to take a 2 year fix back then...

Alnat1

5.28p today for gas on Octopus Tracker which I took out in June.

Ant555

SAC2334 said:

Gas is way over 5 p kwh unless you are very fortunate and have a great fixed deal in place. Most of us a paying the Energy Price Guarantee which for me with Octopus is 10.25 p /kwh (inc Vat ) , 28 p a day standing charge 

Yes, im under 5p but was trying to work out the formula for the likely impact on my monthly costs as I am one of the lucky ones that happened to fix at a time when the market was quite 'normal'.

Unlucky for me that the impact will be a massive increase in one jump, but I also recognise that its lucky for me that ive had time to prepare and im fortunate to have been able to put a little bit aside each month to build up a small buffer ready for the eventuality.

Thanks to all that replied.

diystarter7

Alnat1 said:

5.28p today for gas on Octopus Tracker which I took out in June.

Are you on a variable tracking price and if you are, are you ahead when compared with current variables, please?

Alnat1

www.mysmartenergy.uk/Tracker has the price history for each area.

I'm on V3 and the unit price is capped at EPG rates but has been well under that so far. I do expect the rate to go up as the weather gets colder and demand increases.

molerat

Gas supplied must, with limited exceptions in some areas, have a calorific value between 38 and 41 so a m3 can vary between 10.79 and 11.38 kWh.  11.2 is usually accepted as the average for rough estimation of bills.