GVEA offers standard billing for all members. Under standard billing procedures, an account is billed based on the prior month’s usage.
In addition, GVEA offers the following billing options for residential members. These plans help members take control of their monthly electric bills, taking away the surprise factor.
Levelized Budget Billing
The Levelized Budget Billing Plan is designed to eliminate extremely high or low bills that you may receive throughout the calendar year by providing a fixed amount due each month, with a “settle-up” month each April. The fixed payment amount shall be determined each April from a review of the member’s previous 12-month usage.
How does it work?
In order to help avoid a large “settle-up” amount, GVEA will periodically review your account to compare actual bills with budget payments. The fixed monthly amount may be raised (or lowered) if the review reveals a variation of 10 percent or more over (or under) anticipated seasonally adjusted billings.
If the annual review in April reveals that a member has a balance (over/under), the balance will be added to (or subtracted from) the average monthly bill in 12 equal installments. Once enrolled, members will automatically be re-enrolled into the Levelized Budget Billing Plan each April.
How can I qualify for the Levelized Budget Billing Plan?
All residential members of GVEA who are current with their bills and have been a member for at least one year at the same service location are eligible to participate in the Levelized Budget Billing Plan.
Rolling Average Billing
Residential members may enroll in Rolling Average Billing at any time. This plan is based on a rolling 12-month average, which helps smooth out the dramatic changes in your monthly bills.
Here’s how it works: Your electric bill is calculated by adding the current actual electric bill to the previous 11 months total and dividing by 12, plus 1/12th of the budget plan accumulated balance (the difference between what would have been paid on actual usage and what was actually paid through the Rolling Average Billing Plan). Once enrolled, members will remain in the Rolling Average Billing program until they close the account or notify GVEA that they no longer want to continue in the Rolling Average Billing program.
Since the rolling average billing amount is recalculated each month, there is no need to “settle up” at the end of the year.
Here’s an example: