How To Read An Electricity Facts Label? An electricity facts label is required to include: The price of energy rates The type of electricity plan (fixed or variable) The length of the contract term Termination fees Other.
Have you ever seen an Electricity Facts Label (EFL) but didn’t know how to read it? If you plan to switch electricity companies or have just moved in and need to compare prices, then understanding what the EFL contains is essential. This article will provide a step-by-step guide on how to read an Electricity Facts Label.
An Electricity Facts Label is a disclosure document that outlines the important details of an electricity plan such as the price per kilowatt hour (kWh). It is required by the Public Utility Commission (PUC) of each state and must be provided by all electricity retailers. The EFL is designed to help consumers make informed decisions when comparing electricity rates.
To read an Electricity Facts Label, follow these steps:
- Step 1: Check the company name. Make sure the company name on the label matches the company you are considering.
- Step 2: Look for the rate per kWh. This should be listed in the “Price to Compare” section. This rate is based on average usage.
- Step 3: Confirm the terms of the plan. Look for the length of the agreement, the early termination fee, and any other fees associated with the plan.
- Step 4: Review the renewable energy content. The EFL will list the percentage of renewable energy sources used in the electricity generation mix.
- Step 5: Calculate the total cost. Use the rate per kWh and the estimated usage to calculate the total cost of the plan.
Once you have followed these steps, you should have a good understanding of the Electricity Facts Label. It is important to remember that the EFL is only a disclosure document and should not be used as the sole basis for selecting an electricity provider. You should also compare each company’s customer service ratings and any incentives they may offer.
Reading an Electricity Facts Label is an important step in choosing the right electricity provider for your home or business. Now that you know how to read an EFL, you can make an informed decision about which plan is best for you.
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The Electricity Facts Label (EFL) is a legal disclosure mandated by the Public Utility Commission of Texas (PUCT) that must be included with all energy plans. Amongst.