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TeachMeFinance.com - explain Electric rate Electric rate The term 'Electric rate' as it applies to the area of energy can be defined as ' The price set for a specified amount and type of electricity by class of service in an electric rate schedule or sales contract'. Previous 5 Terms: Electric power industry Electric power plant Electric power sector Electric power system Electric pump for well water Next 5 Terms: Electric rate schedule Electric system loss Electric system reliability Electric utility Electric utility divestiture About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.