Members are different. Homes are different. Lifestyles are different. So SREC offers two different budget billing plans designed to work with your needs.
Budget billing is a convenient way to manage your electric payments. To help control fluctuating monthly bills, the Cooperative offers two budget billing programs. To sign up for one of our budget billing plans give us a call at (607)776-4161 or (800)843-3414. We would be happy to discuss all of our billing and payment options. Our office hours are 7:30 AM to 4:00 PM, Monday through Friday.
Fixed Budget Billing
What is Fixed Budget Billing?
Fixed budget billing is available to members who wish to pay the same amount each month and not be surprised by higher summer or winter bills. We will estimate your monthly consumption based on your past year's usage. Any under-paid or over-paid accounts receivable balance that is outstanding at the end of the budget billing cycle will be reflected in the new budget amount. If you would like to have a catch-up month with your fixed budget payment, you will need to pay your actual charges that are listed on your December bills, plus any accounts receivable balance listed on the first line on the right-hand side of your bill. This payment will need to be received by January 5th of each year to ensure your new budget amount does not calculate based on your accounts receivable balance from the previous year's under-paid or over-paid budget.
Levelized Budget Billing
What is Levelized Budget Billing?
Levelized billing is different than the typical fixed budget billing option, where you pay the same amount each month regardless of your energy usage and make up any shortfall or receive a credit at the end of the year. Levelized billing is a variable budget payment that adjusts to a member's usage patterns and energy rate changes, so there is no unexpected catch-up payment due for any shortfall at the end of the year. Levelized billing allows our members to manage their utility bills by having a more consistent monthly payment, without the surprise that can occur with catch-up payments. With levelized billing, your monthly payment will be based on a rolling average of your current energy bill and previous eleven months of energy bills.
Budget Billing FAQs
What are the qualifications:
- Member must have a 12-month billing history on their account.
- Member must be current on their electric account.
Are there any fees associated with the programs?
No, this is a free service provided to all qualified members.
When is my first payment due?
Your first payment will be due on the 5th of the month after your enrollment. Failure to make a budget payment will automatically remove you from the budget billing program.
When can I enroll in a budget billing program?
Members can enroll at any point during the year as long as their account qualifies based on the requirements above.