Video for Current Budget Bill Customers - Understanding Your Balance:
What is Budget Billing?
Budget Billing is a great way to take more control over your household budget. With Budget Billing, your GUC bill stays exactly the same for 12 months in a row. No more surprises, or bills that go way up or way down. Instead, you’ll have peace of mind knowing that you’ll pay the same amount on your GUC bill month after month, for an entire year.
How does Budget Billing work?
When you sign up for Budget Billing, GUC reviews the total amount you were billed for the previous year. Adjustments are made for any rate changes, and the total is divided into 12 monthly installments. That’s what you’ll pay each month during the next year. Your payments are based on the average of your bills from the year before.
For example, let’s say that for the past 12 months, your total amount billed was $2,400. Your bills ranged from a low of $100 all the way up to $450/month. You never knew what to expect. Based on that information, if you sign up for Budget Billing, your payments for the next 12 months would be $200/month ($2,400/year). Knowing what your bill will be ahead of time makes it much easier to budget.
What happens if my Budget Billing payments don’t cover my actual costs?
At the end of the 12-month period, there will be a “true-up.” This involves GUC calculating your actual usage and determining what your “real” bills should have been for the year. That amount will be compared to the amount you paid on Budget Billing.
For example, let’s say you paid $200 a month on Budget Billing ($2,400/year), but your actual bill for the year should have been $2,520. In effect, you underpaid by $120. That $120 would be factored into your Budget Billing plan for the next 12 months, and spread out ($10/month) over the next year.
On the other hand, if you paid $2,400/year on Budget Billing and your actual bill should have been $2,280, then you overpaid a total of $120. That $120 would be factored into your Budget Billing plan, making your payments that much less ($10/month) over the next 12 months. You’ll receive a letter in the mail informing you of your new Budget Billing amount at the end of each 12-month period.
At the end of year, if you choose not to continue with Budget Billing, you will be billed the amount you underpaid or credited with the amount you overpaid (on your next GUC bill).
If I sign up for Budget Billing, do I still get a bill every month?
Yes. We continue to read your meter every month, and you will still receive a monthly bill that shows you exactly how much energy you used, the actual bill amount and your account balance. The bill will also indicate your Budget Billing amount due.
Can any customer sign up for Budget Billing?
To qualify for Budget Billing, you must have lived at your current address for at least 12 months, have a good credit history with GUC, a zero account balance at the time of enrollment, and pay your monthly installments by the due date each month.
How do I sign up?
It’s easy to apply for Budget Billing. Just pick one of the following ways to sign up:
- You can sign up in person at our Main Office, 401 S. Greene Street, or GUC Express, 509 SE Greenville Boulevard.
- Or, you may call 252-752-7166 and one of our Customer Contact Representatives will be happy to help you.