It’s a predictable cycle. Each year, electric customers experience “sticker shock” as temperatures dip in the winter and more electricity is used to heat their homes. In the summer, the same shock occurs as warmer temperatures require air conditioning units to use more electricity.
As a result many Volunteer Energy Cooperative customers see electric bills spike in winter and again in the summer due almost exclusively to increased usage brought on by temperature fluctuations. The Levelized Billing option helps to guard against these unexpectedly high bills.
Levelized Billing calculates an average cost based on a 12-month moving average of electric usage. Levelized Billing customers do not experience a yearly “true-up” – the average simply re-calculates each month. As the name implies, the goal of Levelized Billing is to make customer bills more LEVEL.
Levelized Billing smoothes out most of the fluctuation in the amount a customer pays, and is available to VEC customers with previous usage history and good payment history.
The program works best if payments equal the amount billed and the account is kept current with no past due charges. For that reason, Levelized Billing fits nicely with VEC’s Bank Draft payment option.