Understanding Your Electricity Bill
Electricity bills can be complex and confusing. But by understanding how power companies calculate the price you pay, you can start to save on your electricity bills. The following is an easy guide to how your rate is calculated and what type of contract you might be on, two crucial factors that impact on how your electricity is charged. By better understanding your rate and your contract, you can start to save on electricity bills.Understanding your rate
The first step to a cheaper electricity bill is to understand how your electricity company calculates your rate, ie your cost per kilowatt-hour (c/Kwh). Your electricity rate is determined by:
- The type of contract
- The type of meter
Understanding your meter
The type of meter you have in your home will determine how your electricity bills are calculated.
- Interval or Time of Use meters charge all electricity to your home at peak, off peak and shoulder rates.
- Two Rate meters have two registers, one for peak and one for off peak, with two different rates charged for all electricity consumed during the two different time periods.
- Controlled Load or Off Peak meters charge all electricity at one rate with the exception of a specified appliances, such as hot water services, which are charged at off peak rate.
Switch and save on electricity bills
The best way to save on electricity bills is to compare your current rate against the prices offered by other electricity providers in your area. When estimating how much you would save with a
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