12 MAYO 2020
How to Read Your Power Bill: The Details
Figuring out what you’re being charged for on your electric bill can be an uphill battle, and unfortunately, the majority of consumers don’t get very far by reading it. That’s why we created this guide on the Univergy Solar blog so you can properly understand the details on your power bill.
In many cases, especially for renters, electric bills are passed on from the last renters, your landlord, or from the community or building you live in. In this case, you essentially weren’t able to make a decision about your energy bill, and the only thing you can do is read your bill to better understand what the services are that you’re paying for.
We find the following details on a typical power bill:
Contract details and information
1. Name of the company that you have a contract with.
2. Billing period: This can be bimonthly or monthly and will depend on the type of contract that was signed.
3. Contract reference number: This is the number used to identify your contract. Have it handy when you contact your power company.
4. Billing address: This is the address of the individual or business that is being billed.
5. Electric supplier address: This is the physical location of the company that is billing you.
6. Total amount due.
7. Contracted power capacity: This is the power capacity you need depending on the electric appliances you have and to what extent they will be used simultaneously. The type of rate you have is determined by your contracted power as well as the supply voltage. Click here to learn more about different plans depending on voltage.
8. Rate for access to the electrical grid: This is one of the most important parts because it tells you the type of rate you are paying for electricity. There are several different rate categories, which you can learn about in this post. Your rate is determined based on your contracted power capacity (in kW), your supply voltage, and whether or not you have time-of-use (TOU) rates.
Billing summary with energy consumption report.
9. Billing for contracted power capacity: Here you are charged for the contracted power capacity or for penalty overage charges according to your maximeter, if you have a maximeter installed.
10. Billing for energy consumed: Here you are charged for the amount of electricity you used. In Spain’s regulated market, this is divided between the rate (the price per kW hour, which depends on your rate for access to the electrical grid) and the market cost of energy during the applicable period (this varies depending on the month).
11. Taxes: Electricity tax in Spain is 5.1%.
12. Equipment rental: This is calculated by multiplying the number of days in the billing period by the price for renting your meter, unless you own the meter.
13. VAT: Value-added tax is 21%.
Electricity bills are one of the highest fixed monthly expenses that all families and business owners in Spain have in common. Paying too much on this type of bill can become a big problem in the long term.
With Solar Energy, this expense is cut by nearly 50% on all monthly bills, which makes investing in renewable energy one of the best ways to capitalize on vital savings.
With Univergy Solar, you can now perform a simulation of your power consumption and find out what your real monthly savings could be free of charge and without any sort of commitment! Calculate your savings by following this link.
If you need energy consulting services, you can get in contact with us on our website or by sending us an email at firstname.lastname@example.org
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