Equal Payment Plan
The typical member uses more electricity in some months than in others. This means electric service bills will be higher in some months than in other months. For the convenience of our members, Nueces Electric Cooperative, Inc. (NEC) will arrange for members to pay a level billing for each month rather than the standard fluctuating bill. This arrangement is called “Equal Payment Plan”. The conditions necessary for entering into an Equal Payment Plan are as follows:
- Eligibility: Any NEC member who has received service on an account for twelve (12) months or more will be eligible with these stipulations:
- The member must not be delinquent on any account, nor can they have been late on more than two (2) payments within the last twelve (12) month period;
- The eligible accounts are residential and small commercial under 35 kW demand;
- The member must be able to demonstrate an acceptable credit record;
- Account must have a minimum of twelve (12) month usage history.
- Calculation of Bill: The immediate past twelve (12) electric bills shall be totaled and divided by twelve (12) to determine the monthly amount to be paid (average amount billed over the twelve months). This calculation is to allow for any variation in usage, changes in wholesale power costs and increases in fuel costs. The amount may be increased due to rate increases.
- Bill: Member’s meter will be read at the normal meter reading time. The monthly actual bill will be calculated under the appropriate rate schedule. Equal Payment Plan members will receive a bill stating the actual usage and costs, but will be billed the Equal Payment amount as agreed. The bill will also provide the customer with the current cumulative debit or credit balance of the Equal Payment Plan program.
- Late Payment: The Equal Payment Plan billed amount is due by the designated Due Date on the bill. If the Due Date falls on a holiday or weekend, the Due Date for payment purposes shall be the next working day after the Due Date. If payment of the Equal Payment Plan monthly amount is not made each month when due, the Cooperative reserves the right to place the consumer on normal billing with all balances due and payable in accordance with NEC’s Tariff.
- Discontinuation of Service: If the member moves, or for other reason discontinues electric service, the total amount owed to the Cooperative according to the actual billing shall become due and payable immediately.
- Contract Adjustment or Cancellation: The Equal Payment Plan contract may be canceled by either the member or the Cooperative upon thirty (30) days written notice, and the Cooperative’s normal billing and payment procedures will then apply. Significant changes in a member’s service requirement may require them to re-establish a twelve (12) month billing history on the account to qualify for the program.
Deposits: The Cooperative may require a deposit from members entering the Equal Payment Plan; such deposit will not exceed an amount equivalent to one-sixth (1/6) of the estimated annual billing. The Cooperative may retain this deposit for the duration of the member’s continued billing under the Equal Payment Plan; however, the Cooperative will pay interest on the deposit as provided in the Terms and Conditions of NEC’s Tariff. The deposit and interest will be refunded to the member after any twelve (12) month period where they have no late or partial payments.
Please complete the form below and an NEC Member Care Representative will contact you with your Equal Payment Plan details.