SumOfTiers
Description:
Calculates the total cost for a tiered rate structure.
Syntax:
SumOfTiers(quantity, tier1UnitCost, tier1UpperLimit, tier2UnitCost, tier2UpperLimit,..., tierXUnitCost, [tierXUpperLimit])
Type:
Double Precision Numeric
Arguments:
Argument |
Type |
Description |
quantity |
Numeric |
The quantity (ie Consumption/Demand etc) |
tier1UnitCost |
Numeric |
The unit cost within tier 1 |
tier1UpperLimit |
Numeric |
The upper quantity limit for tier 1. |
tier2UnitCost |
Numeric |
The unit cost within tier 2 |
tier2UpperLimit |
Numeric |
The upper quantity limit for tier 2. |
tierXUnitCost |
Numeric |
The unit cost within tier X |
[tierXUpperLimit] |
Numeric |
The upper quantity limit for tier X This is an optional field. If it is not specified it is assumed there is no upper limit. |
Examples:
Consider an electricity tariff which includes three distinct rate tiers for the various levels of consumption.
• | 0 to 2,500 kWh: $0.09/kWh |
• | 2,500 to 10,000 kWh: $0.07/kWh |
• | 10,000 kWh onwards: $0.05/kWh |
Assuming 7500 kWh were consumed the total cost can be calculated using the SumOfTiers function.
Expression |
Result |
SumOfTiers(7500, 0.09, 2500, 0.07, 10000, 0.05,100000) |
575 |