Suwannee Valley Electric Cooperative (SVEC) is happy to offer a method of billing for residential accounts that helps smooth out the highs and lows of a consumer-member’s monthly bill during the year, allowing them to budget for their monthly expenses more accurately.
How it Works
Every month SVEC recalculates the 12-month average billing for the account and bills the member the average amount. There is no catch-up month used in budget billing.
When the account is closed, there will be a final billing to true up the account. If there is a credit due to the member, a refund check will be issued. Likewise, if there is a final amount due to the cooperative, the member will be responsible for paying that amount.
If the member becomes delinquent on the budget billing program, the account will be removed from the program and changed back to a standard billing account. A final bill to true up the account will be due at that time.
Requirements to Apply
- Must have had continuous service at the location for at least 12 months
- Account must be for residential service
- Account must have all charges paid in full before switching to budget billing
- Account must have not been disconnected for non-payment or have checks returned unpaid
- Member cannot have any uncollectable account balances with the cooperative