Budget Billing is simple. We calculate your estimated energy cost for the next 12 months, based on your energy use from the previous 12 months. Then, we divide it into 12 equal payments. Below is a sample of how Budget Billing appears on your new bill.
- Previous balance: Your account balance as of your last bill.
- Payment received: Your last payment received.
- Balance: The difference between your previous balance and payment received.
- Total current charges: Your total energy charges for the current month.
- Total account balance: The total amount due if you were to remove your account from Budget Billing. If the budget balance is above zero, you've used more energy than you've paid for. If the budget balance is below zero, you've paid for more energy than you've used.
- Monthly budget billing amount: Your monthly equal payment.
- Budget amount due: The Budget amount you need to pay for the current month. (This could include over- or under-payments, or Budget settlement charges or credits.)
Other important changes to be aware of:
- Every six months, your account is reviewed, and your payment amount may be adjusted to more closely reflect your actual energy use.
- Your bill for the 12th month will include any difference between what you paid and the actual cost of the energy you used throughout the year.
- If you paid too much, we will apply a credit to your bill.
- If you paid too little, the balance will be spread over the new Budget Billing year.