Have I Don this right ?? .........

Odd_CatFish

I have recently upgraded my heating and looking to change my electricity tariff. I looking at 2 tariffs 
1st Cosy Octopus and 2 EDF Heatpump track.

My question is if I work the various rates per hour over 24 hours then divide the total by 24 hours will give me the Average. So Cosy Octopus work out at 27.47p PKW and Edf Heatpump tracker is 23.56p PKW. So is that the easiest way to work it out ??

Ectophile

It will give you the average.  But that may not be useful.  If you are thinking of switching to a tariff with two or more prices, then you should be thinking of switching as much of your usage as possible to the cheapest time(s).

Reed_Richards

Multiply each rate in pence per kWh by the length of time each rate lasts for in hours.  Do this for each time period for which a different rate applies.  Then add all these numbers together and divide by 24 to get the average price per kWh.  But this is only meaningful if you use the same amount of electricity every hour over the full 24 hours.    

bob2302

This  calculation is only relevant if you use constant power, and if that's true you shouldn't go on a TOU tariff.