Electricity Maximum Import Capacity (MIC)
MIC is in theory calculated on the maximum instantaneous Voltage x the maximum instantaneous Current. This is known as kVA and is slightly different to Power kW. However fortunately from a consumer's point of view electrical metering cannot support this and the instantaneous Voltage x Current calculation is averaged over 15 or 30 minutes, depending on the type of meter installed. This gives the consumer the chance to use control equipment (e.g. the SmartPower Controller) to some non-critical drop load if a 15 (or 30) minute period looks like it might breach the chosen MIC threshold.
Reducing MIC can be a method to achieve substantial savings easily and painlessly, however each period in the whole year should be checked to ensure that the load profile does not change dramatically between different weekdays or between seasons. If no control equipment is being used, it is a good idea to leave some margin to avoid excess costs from breaching the MIC ceiling.