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How to Read the Electric Bill by Christopher Foos
Your energy bill is not just a piece of paper with the amount due on it! The electricity
bill, along with learning to read your electric meter, are the most important tools you have
in saving money on electricity; the bill is kind of your electricity bible.
Most of us just assume that the electric companies can not be wrong and you owe what
they say, but if you read the "How I Saved 60% Off My Electric Bill" story, then you know
this is not true. If you didn't read TheFoosers' story, ELECTRIC COMPANIES DO MAKE
MISTAKES!!!!
Below is a random electric bill taken from the Internet, and with this we will explain what
to look for, how to read your electricity bill, and what to do with the information.
bill, along with learning to read your electric meter, are the most important tools you have
in saving money on electricity; the bill is kind of your electricity bible.
Most of us just assume that the electric companies can not be wrong and you owe what
they say, but if you read the "How I Saved 60% Off My Electric Bill" story, then you know
this is not true. If you didn't read TheFoosers' story, ELECTRIC COMPANIES DO MAKE
MISTAKES!!!!
Below is a random electric bill taken from the Internet, and with this we will explain what
to look for, how to read your electricity bill, and what to do with the information.
Why Know How to Read the Bill? After studying the sample bill below, keep reading to find out how
to take advantage of the information!
to take advantage of the information!
| Though this is a generic sample bill, if your electricity provider does not disclose any of this information, CALL THEM IMMEDIATELY!!!! |
1. Check your name and
address for accuracy! Seems
silly, but be sure they are
charging the right person and
place.
2. Due date: Make sure you
pay if you are able by this
date. No reason to add late
fees to an already HIGH BILL.
address for accuracy! Seems
silly, but be sure they are
charging the right person and
place.
2. Due date: Make sure you
pay if you are able by this
date. No reason to add late
fees to an already HIGH BILL.
What is a kilowatt-hour(kWh)? When you buy electricity they charge you by the kilowatt-hour
(kWh). When you use 1000 watts for 1 hour, that's a kilowatt-hour. Example: A 100 watt light bulb run
for 500 hours is the same as 50 kWh.
(kWh). When you use 1000 watts for 1 hour, that's a kilowatt-hour. Example: A 100 watt light bulb run
for 500 hours is the same as 50 kWh.
| According to the U.S. Dept. of Energy The average home uses 920 kWh of electricity a month |
What to do next?
- Learn to "Read Your Electric Meter".
- Compare and analyze bill (look at previous bills too).
- Call your electric provider with any questions and/or errors and have them corrected (don't push for better rate yet).
- Start calling multiple electric companies and find what kind of deals or rates they offer, but do not commit yet!
- Call your current provider and let them know what their competitors are offering you.
- LET THE NEGOTIATIONS BEGIN!
I know it may seem petty, but even saving a penny per kilowatt-hour adds up! Take the average household usage stated to the right and the $0.116 kWh rate
shown above. This equals $106.72. Now, say you negotiated a 1 penny reduction from your rate to make it $0.10 per kWh. 920 x $0.10 = $92.00. That is a
$14.72, or nearly 15% a month savings, and you have not even seen the rest of the site!!!!
shown above. This equals $106.72. Now, say you negotiated a 1 penny reduction from your rate to make it $0.10 per kWh. 920 x $0.10 = $92.00. That is a
$14.72, or nearly 15% a month savings, and you have not even seen the rest of the site!!!!
Side Note - Electric companies are making a bunch of money!!! It may only cost them $0.01 per kWh (depending on oil
prices) to run your home! With that said, electric providers want your business and they are willing to negotiate. You just
need the tools to succeed; your bill and meter readings!
prices) to run your home! With that said, electric providers want your business and they are willing to negotiate. You just
need the tools to succeed; your bill and meter readings!
3. If taking your own electric meter readings, keep track of all the dates provided. It gives
WHEN for past and future electric meter readings.
4. Make sure this number matches the meter number displayed on the label of your meter.
This assures they are reading the right electric meter.
5. Internal number that determines the rate plan you are on. Ask your electric company what
this is.
6. Number of days in the payment cycle. In this example, a person was charged for 63 days
of service.
7. What the electric provider claims as the current meter reading for this cycle. Refer to
number 3.
8. What electric provider claimed the meter reading was at beginning of cycle. Refer to
number 3.
9. Another internal number related to your rate plan. Ask electric provider for explanation.
10. Past reading subtracted from current meter reading. Total kilowatt hours electric
company claims you used.
WHEN for past and future electric meter readings.
4. Make sure this number matches the meter number displayed on the label of your meter.
This assures they are reading the right electric meter.
5. Internal number that determines the rate plan you are on. Ask your electric company what
this is.
6. Number of days in the payment cycle. In this example, a person was charged for 63 days
of service.
7. What the electric provider claims as the current meter reading for this cycle. Refer to
number 3.
8. What electric provider claimed the meter reading was at beginning of cycle. Refer to
number 3.
9. Another internal number related to your rate plan. Ask electric provider for explanation.
10. Past reading subtracted from current meter reading. Total kilowatt hours electric
company claims you used.
11. Rates. As you can see from this example, the rate is $0.11612 per kWh. The other "Base" fee is a charge I would
ask for an explanation from the electric provider.
12. Other Charges? Without explanations from electric company, here is where they can charge for anything.
Question them all!!!!
14-16. This is all "fluff" to make you feel as if the electric provider is taking care of you. Learning to read your
electric meter is better than any statistic they can provide.
ask for an explanation from the electric provider.
12. Other Charges? Without explanations from electric company, here is where they can charge for anything.
Question them all!!!!
14-16. This is all "fluff" to make you feel as if the electric provider is taking care of you. Learning to read your
electric meter is better than any statistic they can provide.