Budget Billing
What is Budget Billing?
If you'd like your residential electric bill to be about the same amount each month, try Keys Energy Services' Budget Billing Program. Budget billing levelizes your electric bill so customers no longer experience seasonal high and low bills.
With Budget Billing, you can:
- avoid seasonal monthly peaks and valleys on your electric bill.
- budget for your electric bill, knowing that the fluctuation will be minimized.
- withdraw from the program at any time if you decide that it does not work for you.
Any residential customer is eligible if they:
- Have 12 continuous months of billing history at the same address, or
- Have 24 continuous months of billing history with Keys Energy Services
- Have no delinquencies or returned items
Here's How it Works:
For customers on budget billing, your monthly bill will be an average of the actual current bill and the bills from the past 11 months. The average is determined by adding the current bill to the sum of the past 11 months' actual bills and then dividing by twelve. As the illustration shows, there will be a deferred balance each month, which shows what you owe, or what Keys Energy Services owes you. The only time a "true up" will become necessary is when you discontinue service or withdraw from the program.
| Month | Actual Bill Amount | Budget Bill Amount | Monthly Deferred Amount | Deferred Balance |
|---|---|---|---|---|
| Oct. | $145 | $133 | ($12) | ($12) |
| Nov. | $120 | $134 | $14 | $2 |
| Dec. | $90 | $135 | $45 | $47 |
| Jan. | $85 | $135 | $50 | $97 |
| Feb. | $115 | $136 | $21 | $118 |
| Mar. | $145 | $136 | ($9) | $109 |
| April | $170 | $138 | ($32) | $77 |
| May | $180 | $140 | ($40) | $37 |
| June | $195 | $143 | ($52) | ($15) |
| July | $140 | $143 | $3 | ($12) |
| Aug. | $175 | $143 | ($12) | ($44) |
| Sept. | $160 | $143 | ($12) | ($61) |
Customers are billed on a rolling twelve-month average of electric costs instead of the actual current electric cost. With this levelized amount, customers may find that in the summer months, when they are consuming more electricity than usual, their budget bill is less than their actual bill. During the winter, when customers usually consume less electricity, the budget bill is more than the actual bill.
Sign up for Budget Billing | Frequently Asked Questions
