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About Budget Billing
Budget Billing is not a discount program; it offers no savings or lower rates. The total cost of electricity remains the same but members have the convenience of a more predictable bill each month. Participation in the program is free.
To participate, you must be an MVEC member for at least six months at your present location, and your account must be current. Program is available for residential members only. After you enroll, the program takes effect on your next billing cycle.
How Budget Billing is Calculated
If members have established usage history with MVEC (Minnesota Valley Electric Cooperative), the cost of energy used for the previous 12 months is divided by 12 and will be adjusted each June and December.
You’ll be billed the same amount each month, even if your energy use varies. On every monthly bill, you’ll see how much energy you actually used and the cost, which may be more or less than the amount you pay that month under the Budget Billing plan.
Review of Budget Billing Amounts
In June and again in December, MVEC evaluates your Budget Billing for the year, and we may adjust the payment up or down due to changes in electric rates, actual electricity usage and any seasonal variations.
If your account exceeds 60 days past due, it will be removed from Budget Billing, and the entire outstanding amount is due.
Accounts removed from Budget Billing due to delinquent payments cannot be reinstated on Budget Billing unless you enroll in Automatic Bill Pay Program, Recurring Credit Card payments or have one year of good payment established.
How to Enroll
If you Cancel Budget Billing or Close your Account
Your budget balance is the difference in the amount you were billed and your actual usage. When you cancel your Budget Billing Plan or close your MVEC account, the budget balance is applied to next or final bill. If you were billed more than you used, the budget balance is a credit and will reduce the amount due. If you were billed less than you used, the budget balance is a debit and will be added to the amount due.