Billing plans designed to even out your monthly bills

Rolling Average and Levelized Budget Billing plans are available for residential members. Both plans are designed to help even out your monthly bills (they smooth out the peaks and valleys).

Here’s a comparison of the two plans:Mechelle_straightened3

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.

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 enrollment is limited to April and May and you must have 12 months of usage history at your location.

If you have any questions, or to sign up for either option, contact our member services department at 452-1151 or info@gvea.com.

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