Budget Billing Explanation
Seasonal highs and lows can throw a wrench in your monthly budget. Why not take control of your bill with our Budget Billing Plan and enjoy some predictability each month!
Just Energy’s Budget Billing Plan can keep your bill consistent by spreading your total estimated annual billing over a 12-month period. Your payments under the plan are reconciled (trued-up) against your actual annual costs.
How is your payment calculated?
To calculate your budget billing installment which will show up on the supplier’s section of your bill, Just Energy:
- Estimates your total gas and/or electricity use using your past usage, utility estimates and/or actual usage and multiplies that amount by your contract price, then;
- Adds the JustGreen gas and/or electricity charge (if selected) plus any additional amounts; and
- Adds any current budget billing balance on your account. This total is then divided by your remaining term to arrive at your monthly budget billing amount.
The amount you pay is a calculation based on long range weather forecasts, current and forecasted rates for the cost of gas or electricity, delivery charges and the record of consumption of gas or electricity for the home in the past. After all factors are considered, the estimate is divided into equal monthly payment amounts.
Will my budget amount change?
Your budget amount could change when there is a significant change in natural gas and/or electricity costs or the amount of your consumption, or at the time of a budget settlement.
We will re-evaluate your budget billing amount to determine if it is in line with your actual usage. If the re-evaluated budget billing amount is 25%† above or below your current budgeted amount, the newly adjusted amount will be automatically reflected on your next bill statement.
Are meter readings still needed?
Yes, to ensure your monthly natural gas and/or electricity charges and the budget amount are accurate.
What is the budget settlement?
Once a year, your annual actual costs and budget payments are compared. If your total actual costs are more or less than you paid, we will adjust your monthly payment for the next budget period.
The goal of the budget payment plan is to have the reconciliation balance at the end of the twelve months be as close to $0.00 as possible. Customers wishing to have their settlement handled in a different way should contact our Customer Service Center at 1-866-587-8674.
Our objective is to credit customers as quickly and efficiently as possible.
Customers with a credit of less than one budget payment after their charges for the settlement month are calculated will have their first payment of the new budget year (May) reduced by the amount of the credit.
If a customer owes money, their amount owing will be rolled into the next budget plan. The total debit will be divided by 12 and applied to each of 12 monthly payments in the next budget plan year.
Customers wishing to have their settlement handled in a different way should contact our Customer Assistance Center at 1-866-587-8674.