Budget Payment Plan allows you to pay your statement in equal instalments each month and helps to smooth out your energy costs throughout the year. Your budget payment amount is based on an estimate of your energy consumption based on your past usage, the time of year and the expected cost of energy and distribution charges. After all factors are considered, the estimate is divided into equal monthly payments.
Each month you only pay your Budget Payment amount. We compare what your actual costs were for that billing cycle to your Budget Billing amount and keep a separate deferred balance. Typically, a customer's deferred balance will increase during the high consumption winter months and will decrease during the lower consumption summer months. The goal of the Budget Payment Plan is to have the reconciliation of the deferred balance at the end of the twelve months to be as close to $0.00 as possible.
Once per year, at your Budget Billing Settlement month, we review your overall annual billing to ensure your budget is not too low or too high and we incorporate any deferred balance from the previous year.
You can request to enroll in the budget payment plan any time of the year as long as you've met the requirements listed below.
Ensure your account is paid in full
Ensure that you've received at least three invoices
Read your meter
Call our Customer Assistance Centre at 1-866-420-3174 - Monday-Friday 7AM to 9PM; Saturday 8AM to 4:30PM
Yes, we still require meter readings to ensure your monthly gas and/or electricity charges and the budget amount are accurate.
From time to time, as a result of a change in your overall annual billing, it is necessary for us to adjust your monthly amount to avoid the accumulation of a large balance or credit. Your budget amount could change when there is a significant change in natural gas and/or electricity costs, the amount of consumption you use, or at the time of budget settlement. Please let us know if you install additional appliances or renovate your home.
Once per year, your annual actual cost and budget payments are compared. If your actual costs are more or less than you paid, we will adjust your monthly payment in the next budget period.
The goal of the budget payment plan is to have the reconciliation balance at the end of the twelve months to be as close to $0.00 as possible.