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Your energy usage typically will fluctuate with the seasons and can even vary from month to month. Budget Billing divides your estimated annual charges into equal monthly payments, allowing you to better manage your finances.
Budget Billing is an optional TEP payment plan that allows you to pay for your electric use in equal monthly installments.
Electric bills can vary greatly from season to season or month to month. Budget Billing levels out the peaks and valleys and allows you to make the same monthly payment year round.
With Budget Billing, you'll know ahead of time exactly how much to budget for your electric bill.
Your estimated annual bill will be divided into 12 equal monthly payments. We will continue to read your meter monthly, but you'll pay the same amount from one month to the next instead of paying a different amount each month. Your bill will show how much energy you've used, the amount you've paid, and your actual account balance.
We may adjust Budget Billing amounts periodically to reflect changes in your actual usage. As a Budget Billing customer, you also have the option to request a review anytime to see if an adjustment to your Budget Billing amount is necessary to reflect your actual usage. But ultimately you'll only pay for the energy you use.
If you've used less energy than you've paid for, we'll owe you the difference. That amount will be applied to your next Budget Billing payment(s) until it is used up. If you used more power than you paid for, you will owe us. That amount will be added to your Budget Billing payment, equally divided over the next 12 months until it is paid off. Budget Billing is not a discount program.
We total the last 12 months of your electric bill history and divide that amount by 12 equal monthly payments.
Whatever the amount, you'll end up paying only for the energy you actually use. Any overpayment or underpayment will be resolved through adjustments to your Budget Billing amount or direct payments.
If you've used more power than you've paid for, the total amount due will be billed with your next monthly statement.. If you've paid for more power than you've used, the credit balance will be applied to your following monthly bills.
To remain on the program, all bills need to be paid monthly by the due date or you will be subject to removal from the program, at which time, all unpaid usage becomes due and payable.
If you've used more power than you've paid for by the time you leave, you will receive a bill for the amount due.
If you've paid for more power than you've used, the credit balance will be refunded to you.
In order to participate in Budget Billing, you need to have 12 months of electric bill history as a TEP customer, or the subject property needs to have 12 months of TEP electric bill history.
Your monthly bill will look almost the same. It will show your meter reading for the month as well as charges for the utility services you used and the cost that would normally be due. It also lists the Budget Billing payment – the amount you actually pay.