Your electric bill is a monthly financial statement that tells you how much you paid for electricity. It reflects your energy use and costs, measured in kilowatt-hours (kWh).
You can control how much electricity you use by selecting a supplier that offers fixed rates. These can help you avoid fluctuations in your rate, which can occur due to seasonal energy supply changes or other factors outside of your control.
Cost
The cost of your electric bill is largely determined by how much electricity you use, the size of your home, and the climate where you live. It also depends on your supplier if you live in a deregulated state.
It’s important to understand the way your bill is calculated so you can make informed decisions about your energy use and manage your costs. The cost of your bill is calculated by multiplying the per kilowatt-hour (kWh) rate you pay by how many kWhs your home used during the month.
Your electric bill is probably the biggest expense on your utility bill, but that doesn’t mean it’s impossible to cut down on it. Fortunately, there are plenty of ways to save on your energy bills, including lowering your thermostat, turning off appliances when you’re not using them, and avoiding unnecessary electricity usage.
No matter what you do, it’s essential to understand the price of electricity so you can plan for future expenses. And you can do that by comparing your electricity rates with the ones of competitors, as well as making sure you have enough in savings to cover higher months when costs spike.
Time-of-Use Rates
When electricity demand is high, utilities need to generate more power to meet that demand. That can be expensive, so they pass on that extra cost to customers through time-of-use rates.
If you have an electric vehicle, charging it during lower-priced, off-peak hours can make a big difference in your monthly bill. The same goes for large appliances like your washing machine and dishwasher.
Energy monitors such as Sense track your energy consumption and can help you determine how much you can save by shifting your use to off-peak hours.
Adding solar panels on a west-facing roof can help you reduce your consumption of the most expensive electricity by generating more energy during daytime off-peak hours and selling it back to the grid at those times.
The savings can be even bigger for customers who combine their solar installation with a battery that stores electricity to be used later. Using more renewable energy during off-peak hours also helps power grids run more efficiently and reduces stress on the infrastructure.
Meter Readings
The electric meter in your home measures the amount of electricity you use and charges you accordingly. It either is a mechanical analog meter that is read monthly by a utility service person or a newer digital meter that sends information to the electric company through the internet or radio signals.
Whether your meter is an analog or a digital one, there are several numbers and arrows on the face of the meter that show kilowatt-hours (kWh). Each number has a pointer like a clock hand, and the pointer advances when electricity flows through the meter.
You can learn to read these meter dials to gauge your own electric usage and verify that your utility charges are accurate. However, some meters are not easily read and require special skills and equipment.
Using the figures on your meter dials or digital display, subtract the current reading from last month’s reading to determine your household’s energy usage for that billing period. This will give you the kilowatt-hours used for that month’s bill.
Payment Options
There are a number of payment options available to Wake Electric members including online, over the phone and in person at a local authorized payment location. Our billing and customer service teams can help you choose the right one for your needs and budget.
Paying your electric bill is made easy with our simple online payment system. It’s a breeze to use and your details are remembered for future payments.
We also offer a variety of bill management tools that allow you to make better informed choices about how much energy you use and when you use it. You can also set up text and email notifications to alert you of important events such as a payment due date or power outage. If you’re a little strapped for cash, we’ll even help you apply for financial assistance programs that may be available to you. The options are limitless! The best way to find out which options are right for you is to take a closer look at your electricity bills.