Let’s go through the keywords to note when going through your power bill.
ICP Number:
This is the number used to identify your power meter within your meter box. It typically starts with four to five 0s. This is also the number needed to register the installation of distributed generation (DG) onto your property. In this case with Lightforce, the DG is a Solar system. There can be multiple electrical ICP numbers on site but this is rare. If you pay for Gas through your power provider, make sure you record the Electricity ICP rather than the Gas.
Electricity Market Fee/Daily fixed charge:
These are fees that the power company puts in place that cannot be removed. This is something to keep in mind when seeing your power bill post-installation of a solar system.
Metering fee:
This covers the fees your power company is paying the lines company to maintain the power grid and your site.
Off-peak/Peak rates:
Although we think you’re special, in the grand scheme of things, we as people have pretty similar power habits. Power companies then utilise this to provide different power rates at different times of the day. Off-peak hours tend to be late evening and throughout the night. A great example of an Off-peak offer is the free hour of power. These will only be strategically chosen hours where the power grid isn’t under immense stress. Peak hours are during the day when we humans tend to be more active.
Controlled/Uncontrolled tariffs:
Another technique power companies use to change their power rates is having controlled versus uncontrolled tariffs. Controlled rates mean that the power company has the ability to choose when to lessen the amount of power you are getting during periods of time when the grid is under pressure. These are typically placed on hot water phases.
Let us know any other terms on your power bill that we should add to the list!