Common use of Budget Billing Clause in Contracts

Budget Billing. Supplier shall provide Budget Billing to certain Participating Residential Accounts, in accordance with its obligations concerning budget billing as set forth in the RFP. For those Participating Residential Accounts receiving Budget Billing from Seller, a true-up mechanism shall be incorporated that will implement a periodic true-up of the budget amount based upon actual usage in accordance with the RFP, and require a final cash-out either at the end of the term of this Agreement or, in the event that the customer opts-out before the end of the Agreement. The true-up and cash-out is intended to assure that said customer pays for actual Electric Generation Service provided by Supplier. In the event that there is a positive amount owed (i.e., metered usage times the Contract Price is greater than actual amount paid by the customer to date under the Budget Billing arrangement), then under the cash-out Supplier may charge the customers for the outstanding positive balance. In the event that there is a credit balance (i.e., metered usage times Contract Price is less than actual amount paid by the customer under the Budget Billing arrangement), then under the cash-out Supplier shall provide a credit or issue a check, as determined in consultation with Government Aggregator, to the customer for the outstanding credit balance.