Below are answers to some common questions:
Your initial monthly budget payment will be the total of the previous 12 monthly bills at your current residence plus your current account balance divided by 12. Each month thereafter, we'll review your budget bill amount using the average of your previous 12 monthly bills. Your budget amount will be changed only if the recalculated budget amount differs 10 percent or more from your current budget amount. This 10 percent threshold allows a more stable monthly payment. On your Budget Billing anniversary date, your payment will be entirely recalculated by adding the total of the previous 12 months' actual bills at your current residence to your current account balance and dividing by 12.
I have an auto payment. How will I know when my budget amount changes so that I can plan my banking accordingly?
You will continue to receive a monthly statement about how much your next payment will be and when that amount will be taken from your account. A message on your bill also will alert you when your amount has changed.
Adjustments will depend on fuel costs, weather and usage. We reviewed residential customer bills over a three-year period. On average, the budget billing amount would have been adjusted five times during that time. Each adjustment would have been about $10.
Overpayments will be applied to your total actual energy usage account balance, rather than reducing the amount due on your next bill by the amount of the overpayment. Your monthly budget amount will be reduced on your next bill if the overpayment reduces your estimated monthly budget amount by 10 percent or more.
You can cancel Budget Billing any time by contacting us. When you stop Budget Billing, any carryover credit or balance due is applied to the next month's bill and becomes due in full at that time.
If you are taken off Budget Billing for non-payment, you will need to bring your account current before you can go back on the plan.