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The Water Cooler
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Utility Bill Shock?
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<blockquote data-quote="SlugSlinger" data-source="post: 3528818" data-attributes="member: 7248"><p>I am as well for my Gas, but not electric due to the way the average monthly billing is calculated differently.</p><p></p><p>ONG uses a rolling 12 month average to calculate the monthly payment.</p><p></p><p>PSO maintains a balance of your money. When I quit the PSO AMP, I had a balance of over $150 of my money that was just sitting there earning PSO some miniscule interest.</p><p>PSO uses:</p><p><span style="font-size: 18px"><strong>Average Monthly Payment Plan</strong></span></p><p>How It Works:</p><p>The AMP plan significantly moderates the monthly bill variation while avoiding the potential of accumulating a large settlement balance, or credit, at the anniversary month. Please note that this is not an equal monthly payment plan.</p><p></p><p>The monthly payment on the AMP Plan is based on the average of the current month's bill, plus the previous 11 months' bills. Each month, the oldest bill is removed from the computation, and the new current bill is included. As a result, the payment amount will fluctuate slightly from month to month.</p><p></p><p>The difference between actual billings and the average billings will be carried in a deferred balance that will accumulate both debit and credit differences for the duration of the AMP Plan year (12 consecutive months).</p><p></p><ul> <li data-xf-list-type="ul">At the anniversary month, the deferred balance is divided by 12, and this one-twelfth amount is added to (or subtracted from) the average payment amount for the next 12 months.</li> <li data-xf-list-type="ul">Settlement occurs only when participation in the plan is terminated. The AMP Plan is not to be used to defer payment of delinquent bills.</li> </ul></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3528818, member: 7248"] I am as well for my Gas, but not electric due to the way the average monthly billing is calculated differently. ONG uses a rolling 12 month average to calculate the monthly payment. PSO maintains a balance of your money. When I quit the PSO AMP, I had a balance of over $150 of my money that was just sitting there earning PSO some miniscule interest. PSO uses: [SIZE=5][B]Average Monthly Payment Plan[/B][/SIZE] How It Works: The AMP plan significantly moderates the monthly bill variation while avoiding the potential of accumulating a large settlement balance, or credit, at the anniversary month. Please note that this is not an equal monthly payment plan. The monthly payment on the AMP Plan is based on the average of the current month's bill, plus the previous 11 months' bills. Each month, the oldest bill is removed from the computation, and the new current bill is included. As a result, the payment amount will fluctuate slightly from month to month. The difference between actual billings and the average billings will be carried in a deferred balance that will accumulate both debit and credit differences for the duration of the AMP Plan year (12 consecutive months). [LIST] [*]At the anniversary month, the deferred balance is divided by 12, and this one-twelfth amount is added to (or subtracted from) the average payment amount for the next 12 months. [*]Settlement occurs only when participation in the plan is terminated. The AMP Plan is not to be used to defer payment of delinquent bills. [/LIST] [/QUOTE]
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