What are the benefits of budget billing with FPL? (2024)

What are the benefits of budget billing with FPL?

FPL Budget Billing^® offers a solution by providing consistent comfort and predictable monthly bills. FPL Budget Billing is a free bill management program that provides balance in your finances by averaging your energy costs throughout the year, so you pay about the same each month.

Is FPL budget billing a good idea?

FPL Budget Billing^® offers a solution by providing consistent comfort and predictable monthly bills. FPL Budget Billing is a free bill management program that provides balance in your finances by averaging your energy costs throughout the year, so you pay about the same each month.

Is utility budget billing a good idea?

While it won't save you money, budget billing may allow you to more easily manage your monthly budget. You won't pay steep increases in energy rates during the warmest or coldest months in your region when you use more power.

What happens if I discontinue FPL budget billing?

If you are discontinuing because your current bill is higher than your actual, view “How FPL Budget Billing is calculated.” IMPORTANT, if you discontinue Budget Billing: Your deferred balance (credit or debit) will be added to your next month's bill. You will not be able to rejoin the program for 12 months.

What happens if I cancel budget billing?

You can cancel your participation in Budget Billing anytime. When you cancel, any balance due or credit will be applied to your account.

Why budget billing for utilities is preferred?

Budget Billing spreads your energy charges out evenly over the entire year, helping you better manage your energy bills. No matter what the weather is like, you know you'll pay about the same amount every month. How does Budget Billing work? The budget year begins with your first bill after joining the plan.

Why does my budget bill keep going up?

Does the Budget Billing amount ever increase or decrease? Budget Billing performs a review of your usage every four months. This ensures you are paying a monthly average of your usage and costs throughout the year. If your energy usage or costs change significantly, we adjust your Budget Billing amount.

How does FPL budget billing work?

How FPL Budget Billing is calculated. Your monthly Budget Billing amount will be based on the average of your actual bills during the last 12 months. We continue to read your meter each month. Your monthly bill shows exactly how much energy you use, the actual bill amount, and any deferred balance on your account.

How does budget billing work?

How does budget billing work? To calculate your monthly budget billing amount, a utility company will look at your past usage, typically over the last year, and average it to determine your monthly charge, says Sara Rathner, financial author and credit cards expert.

What is the most expensive utility to pay?

How can I lower my FPL electric bill?

Are FPL rates going up in 2024?

After approval by the commission, the FPL settlement led to a $692 million rate increase in January 2022 and another $560 million hike in 2023. The wide-ranging settlement also included such things as allowing increases in 2024 and 2025 to pay for solar-energy projects.

Why is my FPL bill so high now?

Additional factors can increase your energy bill too. Things like older appliances can be less efficient and use more energy; house guests, kids on break and working from home can all increase A/C, hot water and oven use; and even purchasing additional electronics.

What is FPL budget billing deferred balance?

The deferred balance amount is the cumulative difference between your Average Monthly Billing amounts and your actual usage charges. The deferred balance amount can be found on your monthly bill. If the deferred balance amount is a credit, 1/12 of it will be subtracted from your Average Monthly Billing amount.

How do I get a refund from budget?

If you wish to cancel before your rental pick-up time, you must cancel and request a refund online. Once cancelled, we will credit you within approximately seven business days. Credits will be applied to the same card with which you prepaid.

What does deferred balance mean for FPL?

"Deferred Balance" amount - the cumulative difference between your "Actual Bill" and your "FPL Budget Billing" amount.

What percent of budget should be utilities?

Allocate a reasonable percentage, such as 5–10%, of your monthly income toward utilities. Consider the size of your home. Larger homes typically require higher utility budgets due to increased heating, cooling, and energy needs. Review past bills.

What is budget billing settlement?

On the 12th month, you will receive a settlement bill showing either a payment due or a credit balance. This amount equals the sum of your energy usage throughout your Budget Billing Plan year.

What are the disadvantages of average billing?

You'll want to wait on average billing if you think your usage patterns will change. A big change in your usage can lead to underpayment on your bill and a big deferred balance. You could be stuck with a massive bill to settle anything you owe to your provider at the end of your contract.

What does budget billing true up mean?

True-up means zeroing of the “Budget Settlement Amount” shown on billing. Customers with a budget settlement amount of $200 or more must complete a true-up ($0.00 amount billable remaining) for eligibility in the variable budget billing program.

Is equal billing worth it?

Does the Equal Billing plan save me money? No. Equal Billing can help you manage your budget by spreading the cost of your annual electricity use over 12 equal monthly payments. Equal Billing customers pay the same energy rates as customers on the Bi-Monthly Billing Plan.

Why is my true up bill so high?

High bills may arise from fixed fees, non-bypassable charges, or increased electricity usage after solar installation. Homeowners can lower their bills by adding more solar panels or batteries to their system, which helps in increasing electricity production and storing excess power for peak hours.

What is 62 plus FPL?

62Plus is a program for customers who rely on fixed-income payments, regardless of age. The program gives you one full month to make the payment after the bill is issued.

What is the minimum base bill for FPL?

Residential customers whose monthly base electric service costs fall below $25 are subject to a minimum $25 base bill.

Will we get money from FPL?

Through affiliate marketing, you can also make money off of your FPL content. This entails promoting services or goods associated with the game and getting paid a commission for each purchase made through your special affiliate link.