Budget Billing definition

Budget Billing means an arrangement whereby Supplier, rather than invoicing and collecting monthly charges from a customer equal to actual monthly metered usage multiplied by the Contract Price, instead invoices and collects an equal amount each month, which equal monthly amount is derived by multiplying estimated total usage over the contract term by the Contract Price, and then dividing that total amount by the number of months in the contract term. Customer shall pay for actual usage via an annual true-up as described in Section 5.5 in Appendix A – Master Performance Agreement.
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Budget Billing means an arrangement whereby Supplier, rather than invoicing and collecting monthly charges from a customer equal to actual monthly metered usage multiplied by the Contract Price, instead invoices and collects an equal amount each month, which equal monthly amount is derived by multiplying estimated total usage over the contract term by the Contract Price, and then dividing that total amount by the number of months in the contract term. Customer shall pay for actual usage via an annual true-up as described in Section 5.5.
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Budget Billing refers to averaging annual energy costs over the previous 12 months to determine a monthly payment amount and is re-balanced every three months, adjusting the ▇▇▇▇ up or down based on the previous four months’ usage.
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Examples of Budget Billing in a sentence

  • Supplier shall provide Budget Billing to certain Participating Residential Accounts, in accordance with its obligations concerning budget billing as set forth in the RFP and otherwise consistent with applicable BPU rules.

  • 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.

  • Budget Billing sets you up with equalized payments for your utilities based on your previous usage and is a convenient way to budget for your utility expenses.

  • For those Participating Residential Accounts receiving Budget Billing from Seller, a true-up mechanism shall be incorporated, in accordance with applicable BPU rules and the specifications in the RFP, that will implement a periodic true-up adjustment 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.

  • Your account will be reviewed periodically over the Budget Billing term period.


More Definitions of Budget Billing

Budget Billing means an equal payment arrangement between a
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