For Egyptian Electric Cooperative members who own their home and have lived there for one year or more, budget billing can help avoid the peak bills that come with winter heating or summer air conditioning. Here's how Budget Billing works:
- The total of electric usage over the last twelve months is calculated.
- That amount is divided by eleven months to find the average monthly bill with cushion for weather changes.
- The amount due for that amount of kilowatts is rounded and if a security light is at the location, the cost for use of the light is added. This is the monthly budget amount to be billed.
- Each month a bill is mailed showing actual usage compared to the estimate you pay.
- Each month your account is reviewed and if the estimated budget amount appears to differ significantly, the billing department will contact you for an adjusted billing amount.
- In May of each year, we true up and compare your actual consumption with what was paid. Any variance is paid or credited to your account at that time and your new budget bill amount is set up for the following billing year.
To receive full benefit of participation in the Budget Billing program, you must make your monthly payment by the normal due date. Failure to do so may result in removal from the program and could result in a requirement to pay any balance due in full with the next regular monthly billing. An option many of our members use is the automatic payment plan (ACH) along with the budget billing plan. Each month the same amount will be taken out of your bank account on the due date of the bill. No more checks to write or postage to pay…..it makes life easy.