![]() If the tariff you have chosen does not have standing charges( fixed amount you have to pay regardless how much electricity you have consumed), then your electricity unit price will be higher to compensate. Electricity unit price varies depending on the number of reasons such as your location, your preferred mode of payment, and what traffic you have chosen. Electricity Unit PriceĮlectricity unit price is the price that you pay to consume one unit of electricity in your household. Hence, the unit price formula is derived as: ![]() The unit price includes fixed cost, the variable cost, overheads, direct labor cost, and a margin of profit to encourage the business activities and organization earning. Hence, customers should calculate the unit price to know what he is paying for a single item or a pound of food in supermarkets, rather than looking at the total quantity of the product he is purchasing. The researcher suggests that unit price information helps shoppers to save around 17-18% in supermarkets when they are educated on how to use it. Similarly, customers would not buy the product if the value of the product is less than the price. An organization cannot sustain itself for a long period by selling products at a lower price. ![]() The unit price is important for both customers and organizations. The unit price refers to the price per unit of measures, such as price per pound, quart, ounce, or other units of weight or volume of the food package. The unit price is a measurement used to represent the price of a particular good or service to be exchanged with customers or consumers for money. ![]()
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