'If my electricity is 25.88p per unit and the standing charge is 43.66p for Tariff 1, and Tariff 2 is 24.96p per unit and standing charge is 62.22p, what would my usage need to be in kWhours for my bill to be the same under either tariff?'
So I then asked:
'What would my bill be for one year of 2000 kWh of use under both tariffs?'
Under Tariff 1, the annual bill would be approximately £676.96 (67695.9p), and under Tariff 2, it would be approximately £726.30 (72630.3p), assuming the standing charges are applied daily.
Simples!
It replied 'The usage needs to be approximately 20.17 kWh for the bill to be the same under either tariff.'
From the answer, it seems that one tariff would always be cheaper than the other as long as my usage was 20kWh or more which is easily surpassed as I use about 2000 kWh annually.
'What would my bill be for one year of 2000 kWh of use under both tariffs?'
and got the reply:
Under Tariff 1, the annual bill would be approximately £676.96 (67695.9p), and under Tariff 2, it would be approximately £726.30 (72630.3p), assuming the standing charges are applied daily.
So I changed my Octopus electricity Tariff to the cheaper 12m fixed tariff since my annual usage will always be greater than a measly 20kWh!
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