Budget Billing is a convenient way to manage your electric bill payments. The Budget Billing plan helps you avoid high seasonal bills by making an even monthly payment throughout the year. Budget Billing is available to members with accounts in good standing who have had electrical service at the same address for at least 12 months. Budget Billing does not reduce your overall energy expense. It simply lets you spread out your annual energy expense over a 12-month period and let you know ahead what your monthly payment will be. So you'll be able to manage your household budget a whole lost easier.
The Budget Billing program runs from October to September. SREC calculates your Budget Billing amount based on your previous 12-month usage. We then divide the total by 11 to arrive at your monthly Budget Billing payment amount. The Budget Billing will be reset in September. If your budget status in September reflects a balance owed, all amounts will be due by October 5th. If your budget status in September reflects a credit balance, this will be reflected in your new monthly budget amount. As a part of the budget billing process we review the status of each budget account quarterly and make adjustments if necessary.
Your bill will still show you the number of kilowatt hours of electricity you use each month, so you can track your energy usage. Your monthly statement will now show two amounts, (1) your actual electric charges for the billing period and (2) the amount you should pay according to your budget bill plan. You should always pay the budget amount due each month.
There is no charge for using the Budget Billing plan. This is a service that we provide to our members to make it easier to budget their electric bills. Enjoy the peace of mind that comes from planning ahead. Participating members must notify us if they decide to discontinue participation.
For more information on how to sign up for budget billing, please contact our billing department at 607-776-4161 or 800-843-3414.