We all know how hot North Carolina summers can get. While you can’t change the weather, you can change the way you pay for it. Your co-op’s budget billing program evens out your monthly payment so you pay the same amount each month, no summer spikes, no winter shock, no surprises.
How Budget Billing Works
We take a look at your last 12 months of electricity use and average it out. That average becomes your monthly budget billing amount. You pay that same amount for 11 months in a row, no matter how much electricity you use in July or how little you use in October. In the 12th month, we do a “settle-up.” If you used more energy than predicted over the year, you’ll owe the difference. If you used less, you’ll get a credit. Then we recalculate your new budget billing amount, and the 12-month cycle starts over.
Why Members Love It
- No bill shock. Your A/C will run hard in July and August and your heat will run hard in January and February. With budget billing, neither one wrecks your monthly budget.
- Easier to plan. Knowing what your power bill will be ahead of time makes it easier to plan around groceries, gas and everything else.
- Pairs perfectly with autopay. Set up autopay through SmartHub and your bill becomes truly hands-off. It’s the same amount, automatically drafted, every month.
Who It’s Best For
Budget billing is a great fit for members who:
- Want a predictable monthly bill they can plan around
- Live on a fixed income or a monthly budget
- Don’t want to wonder whether the weather is going to hurt their bill this month
- Like the “set it and forget it” approach to bill paying
A Few Things to Keep in Mind
Budget billing doesn’t change your total annual energy cost. It just spreads it out evenly across the year. Your energy-saving habits still pay off: lower year-round usage means a smaller settle-up bill in month 12, or even a credit.
It’s also worth keeping an eye on your actual usage through SmartHub during the year. The number you see drafted from your account each month is your budget billing amount, but the energy you’re using underneath it is still very real. SmartHub’s tools can help make sure your habits and your year-end settle-up continue to fit your budget.
Ready to Get Started?
Call us at 800.222.3107 to sign up or learn more. A member services representative can look at your account, calculate your budget billing amount and answer any questions.