Bill Calculator

Domestic Customer Bill Calculator

Dear Customers,

Please note that this calculator is for Domestic Customers only and provides a basic estimate of your bill value using the fuel charge published in the current month.

Let’s show you the calculation if you use 250 units of electricity over a billing period.

1.			Fuel Component
			Calculate fuel component by multiplying TOTAL number of units used by fuel charge.
			*250 kW/h 0.64 = $160**
			Note:
			For simplicity, this calculator uses a single fuel rate to estimate your bill value.
			Fuel charge varies monthly based on average fuel price over the last three months.
			Assume that you are billed from January 15 – February 17 and the fuel charge changes on January 21. 6 days of your usage (Jan. 15-20) will be billed at the old rate and the remaining usage at the newer rate, which may be higher or lower depending on international fuel price movements over the last three months.

2.			Non-Fuel Component
			Multiply the total units used by the non-fuel charge ($0.43)
			*250 kW/h 0.43 = $107.50**
			Note:
			Non-fuel rate is adjusted annually (increased or decreased) based on inflation. The regulating mechanism is a price cap regime that requires GRENLEC to absorb 2% of inflation and does not allow the Company to pass on inefficiency costs to customers.

3.			Government Charges – VAT – 15% of non-fuel usage over 99 units
			Subtract 99 from the total units used
			250-99=151 units (Vatable Usage)
			Calculate VAT for 151 units
			*151 kW/h 0.430.15 = $9.74*

4.			Environmental Levy
			Select charge corresponding to usage
			0-99 units = no levy
			100-149 units = $5
			150 or more units = $10

5.			Total Estimate
			Add totals from 1,2,3 & 4
			Fuel – $160
			Non-fuel – $107.5
			VAT – $9.74
			Environmental Levy – $10
			Total Estimate = $287.24
Note: If you use no electricity during a billing cycle, there’s a minimum charge of $4.00 to your account.

All prices are calculated in EC dollars.