First we have to calculate the warmth demand for warm water and heating.
Based mostly on the typical fuel consumption noticed of Octopus clients, this labored out to be 12,273kWh.
Fuel used for cooking makes up round 2.5% of this, or 307kWh. This implies 11,966kWh is required for heating and sizzling water, or your warmth demand.
A stay research by the UK authorities vitality division (DESNZ) discovered the typical fuel boiler to be round 85.3% environment friendly.
This implies, of the 11,966kWh of warmth demand, solely 85.3% is transformed into warmth.
This works out to be 10,207kWh (11,966kWh x 0.853).
From July 2024, the common unit price value cap for fuel is 5.48p/kWh.
A standing cost additionally applies for a fuel provide. From July 2024, this will likely be a median of 31.41 pence per day, or £115 per 12 months, for these on a versatile / variable tariff.
The annual common electrical energy utilization of a medium UK house is 2,700kWh.
For a versatile tariff, the common unit price value cap from July 2024 for electrical energy is 22.36 pence per kWh.
A standing cost additionally applies for an electrical energy provide. From April 2024, this will likely be a median of 60.12 pence per day, or £219 per 12 months, for these on a versatile / variable tariff.
Utilizing this info, we will calculate the full vitality invoice price with a fuel boiler:
(11,966kWh x £0.0548) + (307kWh x £0.0548) + (£0.3141 x 365) + (2,700kWh x £0.2236) + (£0.6012 x 365) = £1610
