Corporate

Budget Billing FAQs

Who's eligible?

Residential and small to mid size non residential (VA Rates GS-1, GS-2, GS-2T, 5, 5C, and 5P; NC Rates 5, 5P, 5C, and 7) customers who have more than six months billing history and owe no more than their current bill are eligible. 

Will I save money on Budget Billing?

No. The budget plan is simply a budgeting tool to help avoid seasonal fluctuations in your bill. 

Are there any fees associated with Budget Billing?

No, there are no fees or charges associated with the budget plan. 

How is my initial budget amount calculated?

The budget amount is the average of the previous 12 months of bills at your address. If you have been at your address for < 12 months, part of your average is based on the prior occupant’s electrical usage. Any Products and Services (contract or warranty) charges on your account are added to the budget amount each month. Your account is reviewed periodically and your budget amount may increase or decrease based on changes in usage or an accumulation of a large credit or debit account balance (difference between how much is paid on budget plan and actual bills).

How is my budget amount calculated at budget review?

The adjusted budget amount is based on the average of the previous 12 bills at your address plus your total account balance (difference between how much is paid on the budget plan and actual bills) divided by 12. Any Products and Services (contract or warranty) charges on your account are added to the budget amount each month.

What changes will take place on my bills?

Your meter readings, usage, and actual costs will still appear on your monthly bills. The amount due will reflect your budget amount, and the total account balance will reflect the difference between how much you paid on the budget plan and your actual bill amounts. This amount is shown on your bill each month and can be a credit or debit balance depending on the time of year.  This amount is automatically adjusted into your budget amount during the budget billing review to determine your new budget amount.  This amount is either credited to your account or becomes due when the account is removed from the budget plan.

Can I pay my actual account balance instead of the budget amount?

While on the budget plan you should pay only the budget amount (not your current charges or the actual account balance).

Are payment arrangements allowed on the budget plan?

No. Customers on the budget plan are not eligible for payment arrangements. To establish an arrangement, you will first need to stop budget billing. If you qualify for a payment arrangement, you would be responsible for paying your actual bill amount each month plus 1/6th of your total account balance over the next 6 months.

How can I enroll in Budget Billing?

Sign in or register to Manage Your Account to get your budget amount and enroll.

If I move, will I still be on the budget plan?

No. You will need to start the budget plan at your new address. Your new budget amount will be based on the average usage at your new address. Your actual account balance (difference between what you paid on the budget plan and your actual bill amounts) will either need to be settled (your account credited or payment made) at the time you move, or can be added to your new budget amount over the next 12 months. You can start Budget Billing when you set up your new account online.

11. Why did my budget amount increase; my electrical usage has not changed?

There are several causes for an increase in a budget amount. The most frequent causes are:

Initial/current budget amount was too low to cover your actual bill amounts. This causes a large account balance to accumulate.

  • In premise < 12 months - If you were in your premise for < 12 months when your budget amount was established, your budget amount was based in part, or entirely, on the prior occupant’s usage.
  • Moved from one premise to another – If you moved into a new premise while on the budget plan, your new budget amount was based on the prior occupant’s usage, and the account balance from your prior premise may not have been taken into consideration.
  • New construction - If you moved into brand new construction, your budget amount was based on the estimated electrical usage for a premise your size and the electrical appliances at the location.

Large credit balance

  • If you had a large credit balance during the previous budget billing review, the credit would have reduced your budget amount by the amount of the credit divided over 12 months. If your account no longer has a credit balance the budget amount is adjusted to reflect an average of the last 12 months of electrical usage and any actual account balance.

Recent changes in your electrical usage.

  • These changes could be caused by changes in the weather, additions to the family, old/new/malfunctioning appliances, etc. Sign in online to view or analyze your usage history for up to the last 18 months.
When will my budget amount be reviewed?

The budget amount is calculated for a 12 month period. The amount is reviewed periodically and may increase or decrease based on changes in usage or an accumulation of a large credit or debit account balance (difference between how much is paid on the budget plan and actual bills).

How do I discontinue the budget plan and go back to paying what I actually use?

Sign in to Manage Your Account to discontinue the budget plan. Your actual account balance (difference between what you have paid on the budget plan and what was actually used) will become due at the time of removal.  Any credit balance will be applied to your next bill.

NYSE : (April 17, 2014) D 70.67 -0.86