The government has published the Whole Life Cost of Energy (WLCoE) calculator, allowing building owners and operators to fully understand the full financial cost of the energy their building use.
Unveiled by BEIS on 24 January, the main aim of the WLCoE calculator is to reduce energy demand. It uses a levelised cost approach, enabling for comparison between different generation types with different capital and operational profiles. It was noted that this is the technique used by the power sector to compare the unit costs of wind, solar, nuclear and other means of electricity generation on a consistent basis. The government is hoping that the WLCoE results will prove a useful starting point to consider any offers received for either heat or cooling supply, or both.
The full financial cost of energy used to heat, cool or power a building includes the cost of the fuel, along with the cost of operating, maintaining and replacing the plant that converts the fuel into usable energy. BEIS noted that it can be especially difficult to calculate the costs of different types of energy, such as steam, space heating or electricity, generated from different types of on-site plant located across multiple plant rooms, which the calculator deals with.