You might notice that your electric bill looks a bit different this month. Then again, you might not. Regardless, we’d like to tell you what’s changing:
- We’ve made room for the NEW Rolling Average and Levelized Budget Billing Plans. Read on to find out more.
- The usage bar graph has moved to the back of the bill and a small usage chart is located on the front. This way, you can have the best of both worlds – pictures and numbers.
- The bill definitions are now located on the back of the bill, making the overall look of the bill more aesthetically pleasing.
We figure our members are probably most excited about the new billing plans, so let’s look at them more in-depth.
Rolling Average and Levelized Budget Billing are offered to residential members only at this time. Both plans are designed to help even out your monthly bills (they smooth out the peaks and valleys).
What’s the difference between the two plans? Unless you use electric heat, rolling average and levelized budget billing will have very similar effects on your monthly bills. The main difference being that there is no “settle up” month with Rolling Average Billing (there is with Levelized Budget Billing). And one more thing: you can sign up for Rolling Average Billing at any time. Levelized Budget Billing is limited to April and May (this could change in the future) and you must have 12 months of usage history at your location.
Rolling Average Billing and how it works
Rolling Average Billing is based on a rolling 12-month average. Your electric bill is calculated by adding the current actual electric bill to the previous 11 months total and dividing by 12, plus 1/12th of the budget plan accumulated balance (the difference between what would have been paid on actual usage and what was actually paid through the Rolling Average Budget Billing Plan). Since the rolling average billing amount is recalculated each month, there is no need to “settle up” at the end of the year.
Levelized Budget Billing and how it works
Under Levelized Budget Billing you pay the same amount for eleven months with the twelfth month being the “settle up” month.
We will research your annual electric usage and divide by twelve to determine your monthly payments. You’ll know ahead of time what your monthly bill will be every month. Then, we’ll track your monthly usage. Any over- or underpayments will be tracked in the accumulated variance section on your bill. During the twelfth month, we’ll “settle up.” If your actual electric usage for the year was more, you’ll pay the difference. However, if it was less, we’ll issue a refund if requested (otherwise the balance rolls over into the next year). The entire process starts over again in April or May.
Contact our member services department to sign up for either option. If you would like to sign up for levelized budget billing, you’ll need to jump on it – the deadline to enroll is the end of May.
*There are certain eligibility requirements. Contact our member services department if you have questions – 452-1151 or firstname.lastname@example.org.