How To Read Your Bill
There’s a lot of information contained in your billing statement, and sometimes it can be a little hard to tell what it all means. At Boone REMC, we want to make sure our members understand what’s in each section.
The following example shows what a sample bill looks like, with a more detailed breakdown of each section:
Boone REMC contact information
Your account number and the service location number where your meter is located.
This is the billing date, the current due date and the current amount now due.
Message center provides energy-saving tips and other news from your electric cooperative.
Meter reading details, including usage information and meter reading dates
This area displays any balances on your account before this billing statement.
This graph shows your usage comparison for the last 13 months.
Wholesale energy charges include the costs associated with the generation of electricity and the transmission of electricity over high voltage power lines by our wholesale power provider, Wabash Valley Power Association (WVPA). It is figured by multiplying the kilowatt-hours used during your current billing cycle by the current rate listed on your billing statement.
Boone REMC distribution charges include the customer charge and the energy charge. The customer charge is the cost of equipment and assets used to provide service to your location. This fee is charged even if the meter registers no usage. The energy delivery charge is the cost to deliver electricity to your location and is calculated by multiplying the kilowatt-hours used during your current billing cycle by the current rate listed on your billing statement.
Other charges might include a security light, Operation Round Up, and/or sales tax, when applicable. If participating in Operation Round Up, your bill will be rounded to the next highest dollar each month. The extra cents collected are put into a charitable fund, from which an independent board awards community grants. Learn more.
If you participate in Operation Round Up, this line shows how much you’ve contributed to the program year-to-date.
Payment stub – return this portion with your payment if sending by U.S. mail, using our drop box, or paying in person in our office. It is more cost-effective for mailed payments to go to our Martinsville lockbox, where they can be processed more efficiently. There are many other convenient ways to pay your bill, including the SmartHub web or mobile app, PayNow, Auto Pay, Pay by Phone, in person in our office, or MoneyGram.
This is the current amount due. This area also includes a late fee amount to pay, if payment is made after the current due date. Late fees are calculated as follows: 10% of the first $3, plus 3% of the remaining current balance, less any sales tax.
*Degree days are a quantitative measure of the heating and cooling needs of buildings based upon daily temperatures. Both heating and cooling degree days are referenced to 65 degrees F. If the average of a given day’s high and low temperature is 65 degrees, then there are no (zero) heating or cooling degree days. If the average temperature is 72 degrees F for a given day, then there are (72 minus 65 equals) 7 cooling degree days. If the average temperature is 50 degrees F., then there are (65 minus 50 equals) 15 heating degree days. The energy industry pays attention to heating and cooling degree days as a way to easily and quickly estimate energy usage, which then helps to predict energy prices.