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Policy

  1. The Level Payment Program is for Residential services only. In the case of a member account with multiple meters, in order to participate in the Level Payment Program, all meters must be residential and all of the residential service meters must be included in the Program.
  2. The program will run annually April to March, with sign up for the program in the month of April each year.
  3. Requirements to participate in the Level Payment Program are as follows:
    1. The member must have a minimum 12-month history at the service address they wish to setup on the Program.
    2. The member's account must be paid in full as of April 20.
  4. The level payment amount for each service will be calculated as follows: [(average kilowatt-hours (KWh) for previous April to March) times (current KWh rate) plus (current monthly customer charge) times 1.10] round up to the nearest 5 equals Monthly Level Pay Amount
  5. A member with a balance due in any given month that is greater than the level pay amount must pay the balance due and the member is no longer eligible to participate in the Level Payment Program for the current year.
  6. A member must pay a minimum of the level pay amount each month in order to remain on the Level Payment Program. A member that fails to pay a minimum of the level pay amount in any given month is no longer eligible to participate in the Level Payment Program for the current year.
  7. A member with a credit balance on their account on April 20 has the option of applying the credit balance to their Level Payment Program balance or requesting a check for the amount of the credit balance.
  8. A member account with a credit balance on the first of each month will receive interest. The interest rate will be the CFC 12-month Medium Term Note rate minus 1% and will be set the first working day of January and July for the successive 6 months.
    1. United Electric is required to file an IRS Form 1099 on interest applied to a member's account. In order to participate in the Level Payment Program, a member is required to provide their Social Security Number or a Tax ID Number. A member who fails to provide their Social Security Number or a Tax ID Number is not eligible to participate in the Level Payment Program.

This policy supersedes any policy that may be in conflict with this policy.