To Report an Outage Call 1-800-832-2667
Vermont Electric Cooperative offers members the option of budgeting monthly electric bills with the fixed budget payment plan. The plan allows members to spread their projected electric bills over eleven equal installments. The twelfth month is used to reconcile the account.
How the plan works:
VEC will calculate your budget payment amount based on the average of your previous twelve months bills. If you have not been at your service address for the last year it will be based on the last twelve month’s usage for your premises, and will be adjusted for any known changes.
In the first budget year, VEC will review your account in the sixth and ninth months to ensure that the projected usage is in line with the actual usage, thereby minimizing any under or over payments. If the actual energy consumption exceeds the projected amount by 10% or more, we will adjust the budget accordingly and notify you of this adjustment. In addition, we will reconcile your budget payment plan annually.
Enrolling in the budget plan:
If you would like to enroll in the monthly budget billing plan, please contact member services at 1-800-832-2667. A representative will be happy to provide you with information about the plan and help you enroll.
End of year reconciliation:
At the end of the plan year, VEC will reconcile your account. If there is a deficit, you have the option of paying the amount in full. If the deficit exceeds $50.00, members have the option of spreading the budget plan deficit over the next twelve months in equal installments. If you end the budget year with a credit balance (your usage was less than anticipated and you have overpaid), the balance will automatically be reimbursed over the next twelve months in equal installments. If you prefer, you can opt to have the credit refunded in one lump sum by calling member services at 1-800-832-2667.
Understanding your bill:
Your monthly statement will show two amounts, (1) your actual electric charges for the billing period and (2) the fixed amount you should pay under budget bill plan. This amount is indicated in the “amount due” box. While enrolled in the plan you should pay the budget amount due each month.
Cancelling the budget billing:
If at any time you determine that the budget payment plan is not right for you, you can choose to opt out of the plan by calling our member service department at 1-800-832-2667. However, once you are removed from the plan, you may be required to wait 12 months before you can request to be reinstated in the plan. Once your budget plan is cancelled, the total balance on your account becomes due. If you have a credit balance you may request that it be refunded or it can be credited toward future bills.