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Wednesday, July 24, 2024

What Factors Affect Your Electricity Pricing?

The amount of power used by your household influences your electric bill. The time in which you use energy could also be a significant factor in your electricity price.

For instance, the peak hours for electricity demand are highest in the afternoon and the early evening.

During these peak hours, wholesale electricity prices are usually higher. Supply and demand affect the cost of how electric power gets to your home.

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Some electricity plans charge different rates at different times of the day because of this.

Here’s a quick infographic by Vault Electricity that gives more insight

What Factors Make Up Your Electricity Price? #infographic

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