An electricity facts label, or EFL, is a document that provides consumers with important information about a specific electricity plan. This information can help consumers make an informed decision about their electricity provider and plan.
What is an Electricity Facts Label?
Electricity facts labels are typically required by law to be provided to consumers by electricity providers. These labels provide consumers with a clear and concise breakdown of the key terms and conditions of an electricity plan, including the price per kilowatt-hour (kWh), the length of the contract, and any additional fees or charges that may be applicable.
The electricity facts label also includes information about the source of the electricity, such as whether it is generated from renewable sources or fossil fuels. This information can be important for consumers who are looking to reduce their carbon footprint or support environmentally-friendly energy sources.
In addition to the price and source of electricity, the EFL also includes information about the plan’s average monthly usage and monthly bill. This can help consumers compare different electricity plans and determine which one will best meet their needs.
Overall, the electricity facts label is an important tool for consumers to use when shopping for an electricity plan. By providing clear and concise information about the key terms and conditions of a plan, it can help consumers make an informed decision about their electricity provider and plan.