If a customer has ever had their budget busted by a larger-than-normal utility bill or just want to pay a set amount to plan their monthly finances, then Budget Billing is the way to go.
To see if Budget Billing is right for you, please contact our Customer Support Representatives at (731) 642-1322.
Budget Billing is a calculated amount due each month for all of the customer’s utilities on their bill (electric, water, wastewater, and sanitation), to give the customer a set amount to pay until the next recalculate month.
There are 2 requirements for an account to be eligible for Budget Billing:
- A customer has to be at the account location for a minimum of 12 months.
- A customer must have a Normal, Good, or Excellent credit history on their account.
An average of the previous 12-months is calculated and will be the amount due until the next recalculation month. There are 2 recalculation months and 1 catch-up month.
During the recalculation month, a new amount will be determined by taking a 12-month average and multiplying the current rates. This amount will be your budget amount until the next recalculation month. An account will recalculate twice a year to ensure the most accurate amount is paid. The recalculation months are April and October.
Every April, the account will go through a “catch-up” process. This process will take the actual amount used and compare it to the actual amount paid. The calculated amount will then be applied to the customer account.
The calculated amount will be applied to the account balance to be paid and will be used toward future amounts due. Each month the bill amount will be deducted from the balance. All credit will remain on the account until it has been used.