Budget and Levelized Billing

At Wake Electric, we give our members numerous options to make paying bills simple and convenient. Through budget and levelized billing, you can take the surprise out of your monthly budget.


Budget billing

Budget billing is designed to ease the impact of higher seasonal electric bills for residential customers.  It spreads bills into 11 equal monthly payments – helping you plan ahead by letting you know exactly what your monthly payments will be. It does not lower or raise your annual electric bill. The 12th month is the “settling” up month.

At the end of 12 months, you start over with a new average bill.  If you paid for more electricity than you used over the first 11 months, your new budget amount will reflect your credit balance.  If you used more electricity than you paid for, your new budget amount will be increased to include the accumulated balance.  Your budget billing payments may be adjusted each year depending upon your electricity usage and current electric rates.  You still have the option to pay your accumulated balance to $0 at the time of settle up.  If you wish to pay your accumulated balance in your settle up month, please contact Customer Service to recalculate your new budget amount.

To be eligible for the budget billing, the following must be true:

  • Your account has had service at least 12 months.
  • Your current account balance is $0.00 (zero dollars).

Levelized billing

Levelized Billing makes your electric bills nearly predictable. Under Levelized Billing, each monthly bill is the rolling average of your electric usage for the most recent 12 months. For instance, this month’s bill would be the average electric usage of the previous 11 months, plus this month.

Your electric bill will change only slightly from month to month, and the 12-month rolling average guards against drastic changes in your bill, even during the coldest and hottest months.

The only time you have to reconcile your account is when you leave the Wake Electric system or when you decide you no longer want to participate in the Levelized Billing Plan.

To be eligible for the budget billing, the following must be true:

  • Your account has had service at least 12 months.
  • Your current account balance is $0.00 (zero dollars).

Payments

With both budget and levelized billing, consumers must pay their bills by the due date. If not, you may be removed from the plan and returned to regular billing. There is no charge to be placed on budget or levelized billing, and consumers may return to regular billing at any time by notifying Wake Electric in writing and by paying the total amount due on the bill.

If you sign up for either budget or levelized billing, you :

  • The amount of your budget or levelized bill will appear on your monthly bill in the space designated “Total Amount Due”
  • Your payment must be received in Wake Electric’s office by the due date.
  • If your payment is not received by Wake Electric by the due date, you may be removed from the program.
  • You may withdraw from the program any time

Call 1-800-474-6300 or email information@wemc.com to sign up to today or if you would like more information.

REMEMBER – if you make an email inquiry about your account, be sure to include your account number and the full name on the account. If you are inquiring by phone, be sure to have your account number ready. This will ensure accurate and timely service.