Most of us never really comprehend our power bills, let alone how they function. And with good reason: it’s hardly the most enjoyable thing to do on a Friday night.
It is significant, though, since this vital piece of information provides insight into how you utilise your power. Your usage and power consumption habits might wind up saving you $1,000s of dollars in the future, whilst poor habits will result in less saved over time.
Fortunately, understanding how your power bill works is the first step towards saving more money on your electricity costs.
Let’s get started…
Power Bill Essentials
Firstly you have your essentials that are listed as follows.
- Customer number
- Account number
- Service address
- Date of the bill and billing period
- Supply address
- Retailers phone number ( Retailers purchase energy from electricity generators )
- Distributors phone number ( Your distributor is responsible for delivering energy and connecting homes to the grid )
These basic details such as your account number are important when contacting your energy retailer with any issues.
Your Usage Charges
Next on your bill is your electricity usage this will tell you how much your paying per kwh for electricity and your power usage.
- Details ( Tells you the tariff you are on, the type of tariff determines how much you will be charged )
- Meter Number ( Measures the amount of electricity you use over time )
- Bill Days
- Current Reading
- Total Usage
- Charge / Rate ( How much you pay per kWh )
- Home peak consumption
- Home off peak consumption
- Home Supply Charge ( Your Supply charge is the cost that your distributor charges for maintenance of electrical wires & transmission )
- Retailer solar buy back rate ( This is your solar feed-in tariff and is made up of unused energy that is sold back to the grid )
What is On-Peak Vs Off Peak?
Electricity providers will charge you more for electricity usage at the busiest hours of the day, referred to as peak times.
The reason for this is because increased demand on the electrical grid increases energy prices. Prices tend to climb when demand is high, but fall when demand is low.
Peak times vary by state in Queensland. The busiest hours are from 4pm to 9pm. 9 a.m. to 4 p.m. are off-peak hours. And in-between times are referred to as shoulder, which are in the middle in terms of pricing.
The advantages of utilising a timer on your appliances include the ability to lower your peak power use. As a result, you’ll save a little additional money each month.
How To Track Your Usage
Monitoring your consumption has never been easier. The primary advantage is that you can monitor precisely how much electricity you consume and adjust your behaviour accordingly.
However, monitoring your consumption is beneficial not only for cost savings, but also for reducing your carbon footprint. By combining these strategies with a solar system, you may significantly minimise your carbon footprint.
Smart Meters
Numerous smart metres are available that can monitor your energy use in real time throughout the day.
These smart metres are compatible with mobile applications, web portals, and solar systems. They can even keep track of how much energy you sell to the grid vs how much energy you consume.
This enables you to maintain control over your consuming patterns.
Calculators for Energy Monitoring
Another approach to keep an eye on your consumption is to use an appliance calculator, such as the one provided by SA.Gov.au.
This is an excellent approach to identify ineffective electrical items that may require replacement.
Speak With An Expert
As previously said, monitoring your electricity usage patterns is an excellent approach to save a little more money on your utility bills.
When those savings are added to the possible solar savings and environmental advantages, the picture becomes clear. Solar energy has never been more accessible.
To see how much money you may save by installing a solar system, click here.
