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TeachMeFinance.com - explain Cost of service Cost of service The term 'Cost of service' as it applies to the area of energy can be defined as ' A ratemaking concept used for the design and development of rate schedules to ensure that the filed rate schedules recover only the cost of providing the electric service at issue. This concept attempts to correlate the utility's costs and revenue with the service provided to each of the various customer classes'. Previous 5 Terms: Cost model for undiscovered resources Cost of capital Cost of debt Cost of preferred stock Cost of retained earnings Next 5 Terms: Cost Rate Cost Report Cost Sharing Cost, insurance, freight (CIF) costal 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.