The Budget Billing program allows residential consumers of Southern Indiana Power to enter an agreement for average billing payments for electric service on an annual basis.
• The initial Budget Bill amount will be determined by a member of the SIP staff. It is based on the following:
- Consumer Members’ average usage over the previous twelve months.
- The peak months for that Member’s household (Summer vs. Winter).
• The monthly invoice sent to the Consumer will include the current balance of their Budget Bill account, whether it’s a credit (negative balance) or a deficit.
• Upon meeting the eligibility requirements, Consumers may request Budget Billing at any point during the year.
• A formal review of the account will take place every September to ensure the Members’ usage patterns haven’t changed, which could result in a large deficit or credit on the account.
- Member will receive a letter each September, giving them an update on their account.
- Account will also be reviewed in March. Member will only be contacted by Southern Indiana Power if a change to their Budget Billing account needs to take place.
• Consumer Member must have a minimum of one year of billing history on the account.
• Current balance on account must be $0.00.
• Consumers participating in the Prepaid Program are not eligible.
• Consumers shall agree to make the minimum monthly payment during the regular 17-day payment period: 10th of the month through the 27th. Failure of the Consumer to make such payment for two (2) consecutive months, and/or if the service is disconnected, shall render the agreement null and void.
• If the Consumer issues a bad check to the Cooperative for payment, the agreement shall be rendered null and void, and the Consumer will be removed from Budget Billing.
Program Conditions: Consumer Member must understand…
• When the evaluation of the Budget Bill account takes place, the following will be taken into consideration:
- The current balance (credit or deficit) on the account.
- Changes to the usage patterns over the past twelve months.
- Previous usage patterns for the upcoming season
- Expected rate changes.
Program Conditions (continued): Consumer Member must understand…
• If the agreement is cancelled by SIP for violation of the provisions of this agreement, they will not be eligible to enter into a new agreement for average billing payments for twelve (12) months.
• The monthly budgeted amount is NOT the amount actually billed to the member.
- As such, if the account is closed, or this agreement is terminated, any balance due (deficit) must be paid at that time.
- If there is a credit (negative amount) on the account when it is closed, a check will be issued after the final billing cycle has been processed.
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