Budget VS. Levelized Billing
Budget Billing is designed to ease the impact of higher seasonal electric bills for residential Members. It spreads bills into 11 equal monthly payments - helping you plan ahead by letting you know exactly what your monthly payments will be. It does not lower or raise your annual electric bill. The 12th month is the settling up month.
At the end of 12 months, you start over with a new average bill. If you paid for more electricity than you used for the first 11 months, Carroll EMC will credit your account for the difference. If you used more electricity than you paid for, Carroll EMC will bill you for that extra amount. Your budget billing payments may be adjusted each year, depending on your electricity usage and current electric rates.
To be eligible for budget billing, the following must be true:
- The Member can set up budget billing at any time as long as they have a $0.00 balance with the understanding that it benefits them more to have a full 12 months of usage.
Levelized Billing makes their electric bills nearly predictable. Under levelized billing, each monthly bill is the rolling average of their electric usage for the mostrecent 12 months. For instance, this month's bill would be the average electric usage of the previous 11 months, plus this month.
Their electric bill will change only slightly from month to month, and the 12 month rolling average gaurds against drastic changes in their bill, even during the coldest and hottest months.
The only time they have to reconcile their account is when they leave the Carroll EMC system or when they decide they no longer want to participate in the Levelized Billing Plan.
To be eligible for levelized billing, the following must be true:
- The Member can set up levelized billing at any time as long as they have a $0.00 balance with the understanding that it benefits them more to have a full 12 months of usage.
With both budget and levelized billing, Members must pay their bills by the due date. If not. they may be removed from the plan and returned to regular billing. There is no charge to be placed on budget or levelized billing, and Members may return to regular billing at any time by notifying Carroll EMC and by paying the total amount due on the bill.
If they sign up for eith budget or levelized billing, they must understand the following:
- The amount of their budget or levelized bill will appaer on their monthly bill in the space designated "Total Amount Due."
- Their payment must be recieved by Carroll EMC by the due date.
- If their payment is not received by the due date, they may be removed from the program.
- They may withdraw from the program at any time.