The cost of energy: understanding your electricity bill
The cost of energy: understanding your electricity bill
At Share Energy, we are committed to making energy simple and that includes your bills! However, we’ve a legal obligation to include certain information, making them longer than we’d like.
Understanding your bill is essential for managing your usage and saving money, but let’s face it, they can be as confusing as trying to read a map upside down! To help, we’ve decoded your bill so you can take control of your consumption.
What is included in your energy bill?
1. Your account number and bill period
a. Your account number is unique and helps us identify you if you need to contact us or access your online account. The bill period shows the start and end dates of the consumption covered in your bill.
2. Tariff name
a. Most energy plans have a name. It is important to know what tariff you are on so you can see its features or compare with other tariffs.
3. MPRN number
a. This is unique to your house; you will need it if you every move or want to switch providers.
4. Your previous balance before your latest bill
a. This is the remaining balance from last month’s energy bill. If you did not pay the full amount, or have built up credit, the remaining balance or credit is carried over to your current bill as the previous balance.
At Share Energy, we are committed to making energy simple and that includes your bills!
1. Charges
a. Your charges are worked out by multiplying the energy you use by the price you pay for each unit.
2. Your current balance
a. This is your current account balance. We calculate it by subtracting your previous balance from your current one and then adding your payments (credit). The total will let you know if you are in debit or in credit.
3. Supply charges
a. Energy Usage: This is the primary component of your bill, reflecting the estimated amount of electricity you have consumed since your last bill. Remember to submit regular meter readings so this figure is as accurate as possible. If you have a smart reader, you won’t usually need to do this.
b. Your energy usage is measured in kWh. One kilowatt hour is equal to 1,000 watt hours. Use an appliance rated at 1,000 watts for one hour and you’ll be billed for 1kWh.
c. Standing Charge: A fixed daily fee that covers the cost of maintaining your connection to the energy grid.
4. Paying my direct debit
a. Building up credit during the summer months, when energy usage is lower, can help manage the increased usage in winter. It is normal to be in debit during winter and in credit during summer. If your account balances out by the end of the year, no extra payments are needed. If you’re consistently in debit or credit, consider adjusting your payment amount.
Understanding your electricity bill and managing your energy consumption can seem daunting, but it is crucial for controlling costs. You can download the Share App for 24/7 visibility on your usage, or visit www.share-energy.com/energy-saving-tips for hints and tips on how best to reduce energy consumption in your home.
Before you fly off...
From the press...
All systems go! Share Energy is live.
Welcome to Share Energy - the supplier that shares its profits 50/50.
From the Blog...
The cost of energy: understanding your electricity bill
Understanding your electricity bill and managing your energy consumption can seem daunting, but it is crucial for controlling costs.
In the community...
Share Energy shows up for Foyle Hospice
The Share Energy mascots went down a storm at the recent Foyle Hospice Fundraiser.
