The PSO levy increased on the 1st of October, 2017.
What is the PSO Levy? It is a levy imposed on electricity bills by the government that supports the generation of electricity from sustainable renewable sources like wind and solar and also our indigenous fuel, Peat.
How will it affect my electricity bill? The amount that your PSO contribution will increase depends on your MIC.
The key to saving money here is understanding your MIC (Maximum Import Capacity).
Maximum Import Capacity is the amount of space reserved on the network for any given meter. It is measured in KvA (Kilovolt Amps). Each meter is set at a different level, as set by the commissioning electrician. Your PSO Levy is calculated by the level at which your MIC is set. Too low, you pay more PSO. Too high, you incur excess penalties. If it helps, think of it as a belt, tightened by someone else. Too tight: it’s uncomfortable. Not tight enough: you lose your pants. You should be confident that your MIC is sized for an optimum level of PSO payment.
Failure to review your Maximum Import Capacity will lead to higher energy costs. EnergyBroker’s MIC Sizing Guide can help you with this...