Budget Billing: Predictable Monthly Payments
Level out the “peaks and valleys” of your seasonal energy costs with North Itasca Electric’s Budget Billing Plan. This free service allows you to pay a fixed amount every month, making it easier to manage your household budget
How It works
· Calculated for You: Your monthly payment is based on the average of your previous 12 months of billing history.
· Automatic Re-enrollment: Once enrolled, you stay on the plan year-to-year. Budgets are recalculated annually on your August statement.
· Pairs with Auto-Pay: For maximum convenience, combine Budget Billing with our Auto-Pay service.
Important Program Details
· The June “True-Up”: Every June, we balance your account. Any remaining balance or credit is applied to your July statement and is due by the July due date.
· Monitoring Your Usage: We recommend watching your energy habits. If you expect a significant increase in usage, you can request to increase your monthly budget amount to avoid a large balance at the end of the year.
· Plan Flexibility: You may cancel at any time. Please note that if you miss two consecutive payments, you will be removed from the program, and any outstanding balance will become due immediately.
Understanding Your Statement
· Actual Balance: Your running total. Watch this number to see if you are building a large credit or a large balance.
· Even Pay Amount: Your fixed budget payment.
· Total Due: The amount you must pay this month.
Ready to Enroll?
Contact our billing department at (218) 743-1320 or the main desk at (218) 743-3131 to get started.
Budget Billing: Frequently Asked Questions
What exactly is Budget Billing? It is a plan designed to level out the seasonal “peaks” in your electric bill. Instead of paying for exactly what you use each month—which often spikes in the winter or summer—you pay a fixed average amount every month.
How is my monthly payment calculated? We take the average of your electric bills from the previous 12 months. This creates a steady, predictable amount for your household budget.
Is there a fee to join? No. Budget Billing is a free service provided by North Itasca Electric to help members manage their monthly expenses.
Can I use Auto-Pay with this plan? Yes! In fact, Budget Billing works best with Auto-Pay. Since your bill is the same every month, you’ll always know exactly how much will be deducted from your account.
What is the “True-Up” month? June is our true-up month. On your July statement, we compare what you actually used versus what you paid during the year.
· If you used more than you paid: The remaining balance is due by the July statement deadline.
· If you used less than you paid: You will have a credit that can be applied to future bills or sent to you as a refund check.
Will my budget amount ever change? Yes. We recalculate budget amounts annually on your August statement. However, if we notice a very large credit or balance building up on your account during the year, we may adjust your monthly amount at any time to keep you on track.
What happens if I miss a payment? To stay in the program, payments must be made on time. If you miss two consecutive payments, you will be removed from the Budget Billing plan, and any outstanding balance on your account will become due immediately.
Can I pay more than my budget amount? You can, but it is important to pay the actual budget amount consistently. Paying extra will change the “amount due” on your next month’s bill, which can make tracking your budget more confusing.
