Cost Insights

While energy data is traditionally presented in technical units like watt-hours (Wh), kilowatt-hours (kWh), or cubic meters (m³ for gas), Eliq also supports delivering energy insights directly in monetary terms. Cost-based insights consistently drive higher engagement, helping users better understand their energy usage and its real-world impact.

Eliq provides cost insights in two primary ways, depending on the data available for a location.

Requesting Energy Insights in Cost

The Insights API can return consumption and other energy insights in both energy units and cost, depending on the request and the parameters available for a given location.

Cost is always derived from energy consumption combined with pricing data, which can come from different sources.

Option 1: Price Formula (Most Accurate)

The preferred method for calculating cost is through a Price Formula.

A price formula defines the tariff for a specific location and fuel type. It is configured per location and can be managed via the Data Management API. Once set, the Insights API can return precise cost values for consumption over any time period.

For example:

• Consumption in kWh is converted to cost using the configured tariff.
• If a user updates their energy contract, the price formula can be updated to immediately reflect the new pricing.

This approach provides the most accurate and personalized cost insights.

To learn how to configure price formulas, see the Getting Started with the Price Formula Model article.

Option 2: Average Price per kWh (Fallback)

When no price formula or user tariff is available, Eliq can still provide cost estimates using a country-level average price per watt-hour.

Eliq maintains up-to-date average energy prices for each supported country. These values are used to calculate:

• Average cost of consumption
• Estimated energy savings in Energy Advisor

This method does not offer the same precision as a price formula, but it enables meaningful cost-based experiences such as:

• Comparing consumption between different time periods
• Showing indicative savings
• Encouraging users to enter their own tariff for improved accuracy

You can request consumption in cost using this fallback via the Insights API.

Data Sources

Eliq sources average energy prices from:

• Eurostat for all EU countries
• UK Price Cap data for the United Kingdom

These values are continuously maintained to ensure reasonable accuracy when price formulas are unavailable.

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