How to calculate my electricity bill
Now that you know approximately how much energy your appliances and devices consume over the course of a month, we can estimate what that part of your energy bill will cost.
For this step, you’ll need to look at your last electric bill to see how much you pay per kWh, otherwise known as your electric rate.
If you have a variable rate plan this can vary from month-to-month, so it becomes very difficult to estimate future electric bills. let’s continue our math.
The find out how much your appliances cost per month, multiply your electric rate by your monthly usage that we figured out in the steps above.
Figure Out the Cost
Monthly Usage (kWh) x Electric Rate ($/kWh) = Approximate Cost per Month
Example: A television using 11.25 kWh/Month with an electric rate of $0.10/kWh
11.25 kWh x $0.10 = $1.13/Month
Based on these calculations, this television would cost you $1.13 per month. While that might not seem like much, the appliances and devices throughout your home can really start to add up.
Remember, your appliances and devices only account for part of your energy bill. This does not take into account heating, cooling, and lighting. If your home has a meter that you can read, you can multiply the number of kWh for that month by your electric rate (like we did above) to get a more accurate bill estimate.
Another way to estimate your bill is to compile your bills from the past few months and find their average.
Overall, calculating your energy bill is a matter of knowing your usage and what price you pay for energy.