Calculate my Energy Price Guarantee equivalent rate  a problem
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Barcudcoch
Posts: 4 Newbie
in Energy
Hi,
I'm currently on a fixed deal until the end of May 23 so I thought I'd better get a handle on how much I'm likely to have to pay from then.
So, I started with calculating my current annual charge, both what I am actually paying and what I would pay under the EPG.
I started by confirming EDF's current unit rate and standing charge and comparing them to the ones in Martin's EPG calculator.
I'm in the SWALEC area and so they vary a little bit (to be expected) but they pretty much match.
As a check, when I calculated the last billed period using my figures, it agrees with the EDF bill for the, so I think i have the principle right.(converting gas units to kWh ensuring VAT inclusive rates used etc)
When I calculate how much I would be paying during Jan to Mar 23 on EPG, I get an annual equivalent of £1490 (just me and I don't use much)
The EPG calculator (using almost exactly the same unit and standing charge rates) says my annual equivalent is £990 (or £590 including the £400).
For reference Gas  470 kWh and Electricity 1919 kWh, Area is SWALEC
Can anybody help me to get the correct figures please? It's driving me bonkers!
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Comments

Putting your consumption figures into the spreadsheet I use gives an annual cost of £984.13 ( Gas  152.83, Electricity  831.30), which matches the £990. Suggest you look at your calculations.0

Presumably you only cook using gas, as your gas use is not dissimilar from ours  annoyingly the standing charge makes up a big percentage of our billing for gas! Are you sure on that basis though that your electricity figure is correct, as that is exceptionally low for heating, hot water and all the usual lighting, background use etc?🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00
Balance as at 31/12/23 = £112,000.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 
Barcudcoch said:For reference Gas  470 kWh and Electricity 1919 kWh, Area is SWALEC0

PeterGr said:Suggest you look at your calculations.Thanks @PeterGr, I was putting Gas Units and not kWh into the EPG calculator. Though using the right figures in my calculation.Barcudcoch said:For reference Gas  470 kWh and Electricity 1919 kWh, Area is SWALECSo now my calculations agree with the EPG.Sorry for the dumb question.
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Barcudcoch said:...When I calculate how much I would be paying during Jan to Mar 23 on EPG, I get an annual equivalent of £1490 (just me and I don't use much)...
Did you simply take the quarterly bill or its usage and multiply it by 4 or some such to come up with your £1490 ?
If the calcs right against a bill for a quarter, they should be right for the year.
Assuming 470kWh and 1919 kWh are annual figures  then at current Ofgem / EPG Q1 average unit caps and average SC, I get
470x10.3p + 365x28p sc + 1919x34p + 365x46p = 970.97 inc vat.
So £990 looks valid  Swalec maybe slightly above average on rates or electric sc (NWales is the most expensive on SC  and they do vary by upto c£80pa across regions for next Q)
So going back to the £1490, are those figures using the same annual usage, or say 12m/ bill period winter's much higher usage ?0 
@Scot_39 I note my meter readings every Saturday morning so I can track total usage and compare week to week. I have used these figures to calculate my expected usage over 12 months.I have used the rates on the Government site for SWALEC. Also my conversion from gas Units to kWh uses the formula stated on my bill.My calculation for Gas consumption is: Gas Units*0.104*11.3626667 (inc VAT).So, 470x 0.104x 11.3626667 plus 365x 28.48p per day is £659.36For Electricity  1919x 33.97per kWh plus 365x 49.17p per day is £831.35Total annual cost is £1,490.710

Yes sorry  saw your correction from 470 kWh to 470 meter units in the 4:53pm post  must have been posted whilst I was doing the sums / typing the mistaken price total.
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No problem @Scot_39
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