Tired of unpredictable bills? Budget billing might be right for you. Find out everything you need to know about National Grid's Budget Billing plan here.
How it Works
Your bill can vary significantly each month over a whole year (often due to weather extremes). There can be a substantial difference between your bill in the months of high demand, and in the months of low demand. To avoid unpredictable bills, you can sign up to a Budget Plan.
With the Budget plan, your projected annual electric usage cost is spread out into 12 "balanced" monthly payments. This estimation is made by looking at last year's electricity/gas usage. From this, National Grid will predict how much you will use this year, and divide it up equally between each month. Once a year, your account is "settled" - if you still have any outstanding balance, you must pay it (either as a lump sum or spread out through the following year's payments). National Grid will credit your account if you have overpaid.
This means that each month you will receive a normal bill with the electricity & gas used that month, plus what you would be paying if there was no budget plan, and what you in reality are paying with a budget plan. National Grid will look at your bill four times a year (every three months) to verify that the monthly amount is accurate, and may make adjustments so as to avoid any surprises at the end of the year.
Are You Eligible?
National Grid's major requirement for eligibility for the budget plan is that you have no outstanding balance. However, if you are a new customer may be a good idea to wait at least a few months before setting up the Budget Plan, as it will help National Grid estimate your amount accurately. You can check if you are eligible through your National Grid online account.
Who Should Sign Up
The budget plan could be a good option for customers on a tight buget/limited income. If you find unpredictable bills difficult to manage, you might want to consider a budget plan.
How to Sign Up
To sign up, you must go to National Grid's Budget Plan page, or contact a National Grid customer service representative (1-800-642-4272) directly and give them your account information, which you can find on your previous bill (or by giving your name and the phone number you have on file with the utility company).
Other Ways to Save On Your National Grid Bills
Another way to stabilize your bills and save money is by paying a fixed rate for your electricity and/or natural gas. With New York retail energy markets open to competition, you have a choice of energy supplier. Alternate Energy Supply Companies (ESCOs) offer a wide variety of price options, including fixed rates, variable rates, and green energy. Many of them offer great deals that can help you save money.
Call us at 347-410-8789 to find the best rates available in your area.