Budget Payment Plan definition

Budget Payment Plan means a plan seeking to reduce fluctuations in the amount a customer must pay in each billing cycle. The customer agrees to pay an amount for each billing cycle that is based upon the amount the utility expects the customer to be billed for an entire year divided by the number of billing cycles in the year. The amount may be adjusted to accommodate changes in the usage pattern by the customer.

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Budget Payment Plan means a levelized payment plan offered by LIPA, which, if elected by a Customer, provides for level monthly ▇▇▇▇ charges to such Customer. For residential Customers, this charge is calculated by calculating actual electricity usage for the previous 12 months, multiplying that usage by the applicable rates and non-usage sensitive charges and dividing this amount by twelve. The number which results from this calculation is charged to the residential Customer each month. The procedure is similar for small industrial and commercial Customers.

Budget Payment Plan means a levelized payment plan offered by JCP&L, which, if elected by a Customer, provides for level monthly ▇▇▇▇ charges to such Customer. For residential Customers, this charge is calculated by calculating actual electricity charges for the previous year and dividing this amount by twelve. The number which results from this calculation is charged to the residential Customer each month. In the twelfth month, JCP&L bills the residential Customer for actual use in that month, adjusted for any excess or deficit the Customer has paid JCP&L over the prior eleven months. If the Customer owes JCP&L $4 or more over the normal budget amount, that Customer has the option of repaying the full amount in the twelfth month, or spreading the amount of this deficit in equal installments over the first four months of the Customer's next budget year. The procedure is similar for small industrial and commercial Customers.

Examples of Budget Payment Plan in a sentence

Partial payment of a Budget Payment Plan payment shall be allocated according to clause (iii) above, and overpayment of a Budget Payment Plan payment shall be allocated according to clause (iv) above.
The Office of Treasury Services offers a Budget Payment Plan (BPP) and should be contacted directly to establish such a plan.
Availability: The Budget Payment Plan (BPP) is, by mutual agreement between the member and DS&O, available to any qualifying residential member.
Each Customer’s account must have a zero balance before a Budget Payment Plan can begin.
When you enroll in the Fixed Budget Payment Plan, you preauthorize Overture to charge periodically your Payment Method each month up to the maximum amount that you specify.
All amounts due under this Budget Payment Plan shall be paid by Customer when due in accordance with the Cooperative’s standard billing practices.
UTILITY agrees to ▇▇▇▇ Customer 1/12th of Customer’s account balance plus Customer’s average ▇▇▇▇ amount under the Budget Payment Plan or equal payments arrangements; and/ or Applied to Customer’s deposit when a deposit is required from the Customer; and/or Follow procedures that minimize the time elapsing between the receipt of LIHEAP funds and their disbursement to Eligible Customer’s account.
Under the Fixed Budget Payment Plan, you determine a monthly maximum budget for charges to your account.
Applied against Customer’s current or past due ▇▇▇▇ to eliminate the amount owed by the Customer; and/or Applied to Customer’s account balance for any Customer on the Budget Payment Plan or equal payment arrangements.
In consideration of the Customer’s request to make Natural Gas service payments under the Commission’s Natural Gas Budget Payment Plan, the Customer shall pay the Commission at a fixed amount each month in lieu of monthly ▇▇▇▇▇▇▇▇ based on actual usage.

More Definitions of Budget Payment Plan

Budget Payment Plan means a levelized payment plan offered by ACE, which, if elected by a Customer, provides for level monthly Bill charges to such Customer.

Budget Payment Plan means a levelized payment plan offered by PSE&G, which, if elected by a Customer, provides for level monthly ▇▇▇▇ charges to such Customer. For residential Customers, this charge is calculated by calculating actual electricity charges for the previous year and dividing this amount by twelve. The number which results from this calculation is charged to the residential Customer each month. In the twelfth month, PSE&G bills the residential Customer for actual use in that month, adjusted for any excess or deficit the Customer has paid PSE&G over the prior eleven months. If the Customer owes PSE&G $4 or more over the normal budget amount, that Customer has the option repaying the full amount in the twelfth month, or spreading the amount of this deficit in equal installments over the first four months of the Customer's next budget year. The procedure is similar for small industrial and commercial Customers.

Budget Payment Plan means a levelized payment plan offered by PP&L, which, if elected by a Customer, provides for level monthly ▇▇▇▇ charges to such Customer. For Residential Customers, this charge is calculated by calculating actual electricity charges for the previous year, adjusted for weather, and dividing this amount by twelve. The number which result from this calculation is charged to the Residential Customer each month. In the twelfth month, PP&L bills the Residential customer for actual use in that month, adjusted for any excess or deficit the Customer has paid PP&L over the prior eleven months. If the Customer owes PP&L $4 or more over the normal budget amount, that Customer has the option repaying the full amount in the twelfth month, or spreading the amount of this deficit in equal installments over the first four months of the Customer's next budget year. The procedure is similar for Small Commercial and Industrial and Large Commercial and Industrial Customers, except that the charges for previous year is divided by eleven to determine the amount that is charged for each month.