I'm on budget billing with Peco. When I lost my job all those months ago I got behind and started budgeting as well as paying a deferred agreement. The issue?? I don't understand electric billing. So, I'm gonna post this stuff and see if any of you have any idea what the heck it means..
PS - I'm sorry I've been MIA. Lots going on around here but little financially. I have been calculating everything and am planning on posting this weekend about June so you'll see what I mean!
Here goes:
Budget Billing
Total Current Charges $88.77 (obvious)
Current Budget Billing Amount $98.00 (another duh)
Current Budget Balance -9.23 (the difference - got this too)
Last months budget balance $58.83
Total Budget amount $49.60 (??)
Here's where I get really confused:
Current Month: Avg Daily Use 18.1/Avg Daily Temp 75
Last Month: Avg Daily Use 14.1/Avg Daily Temp 62
Last Year: Avg Daily Use 11.6/Avg Daily Temp 68
And...
Avg kWh per month 750
Total Annual kWh Use 9011
What the heck does all this mean?? How do you know so you can control your bill?? I despise PECO because I just never have a clue. I have 5 months left on my deferment and then I'm done - easy to figure out. The rest?? Geez.. ugh.
Any hints would be greatly appreciated :-)
xoxo-nklsmom
Online Diaper Deals | February 26, 2012
4 hours ago
4 comments:
Its a bit hard without seeing the actual bill, but I work for an electric company & explain these every day, so I can give it a shot :) If this is not good enough, shoot me an email (you should have it already), and I can try to help you out with more details.
Basically the budget plan takes what you use in the last 12 months, and uses that as an average payment for the next 12 months. The company still keeps track of your actual usage each month. As long as there are no big changes in usage, and no rate increases, you should come out pretty close to even at the end of next year. Some companies have a payment due at the end of 12 months, others just re-average it into the next 12 months' payments.
The Last month's budget balance looks like its what you would owe if you were not on the plan - its the overall balance on your account. So the $58.83 is the balance you carried over into this month.
Assuming you pay the $98 as stated on the bill, since your charges this month were only $88, you will overpay your usage by $9, which reduces the balance overall to $49.60 (this is what you would still owe after the $98 payment if you went off the budget plan).
The averages are just to show you where you are at. Electricity is one of those things that is hard to predict exactly what each month will be, but overall each 12 months has a way of averaging out to be close. Changes in temperatures can cause huge jumps/dips in this year compared to last year. This year is a lot warmer than last year, so I would not worry too much about that. They also compare to last month so you can see that - again, changes in temps cause these to change a lot.
Overall it looks pretty good. Pay your $98, and work on keeping your usage low. That $49 will be gone in just a few more months if you do that, which is exactly what the budget plan was set up to do.
Sorry this is so long :) If you need more help, just let me know!
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