Level Pay Plan definition
Level Pay Plan means a level payment plan offered by the Seller, which, if elected by a Customer, provides for level monthly ▇▇▇▇ charges to such Customer by estimating the amount that the Customer would pay during a year (based on the Customer's actual usage during the prior year), then charging the Customer 1/11th of that amount for each of eleven months, with quarterly adjustments if necessary. In the twelfth month, the payments made by such Customer during the preceding eleven months are reconciled with the amount owed by such Customer for actual usage during the level pay period, and the Customer is given a credit or billed for the difference as appropriate, based on such reconciliation.
Examples of Level Pay Plan in a sentence
Partial payment of a Level Pay Plan payment shall be allocated according to clause (iii) above, and overpayment of a Level Pay Plan payment shall be allocated according to clause (iv) above.
Participant will hold PG&E harmless for its inability to participate in PG&E Direct Pay, Level Pay Plan, Peak Time Rebate (Save Power Day), and any CAISO-sponsored demand response programs facilitated through Electric Rule 24 during the course of the Phase 2 Pilot.
A Direct Access Customer receiving a Consolidated ▇▇▇▇▇▇ ▇▇▇▇ may participate in Edison’s Level Pay Plan for Edison Charges.
No changes shall be made to the procedure and/or form without mutual agreement of the Union and County.