With traditional billing, members receive a utility bill once a month for all of the electricity they have used in the previous thirty days. Prepaid billing works a little differently. This service allows you to choose how much and how often you want to pay before you use the electricity.
Think of Prepaid the same as paying for gasoline, groceries or a prepaid phone. You pay for the product before you use it, however, you can pay as little or as much as you want, when you want. Payments can be small amounts every few days or large amounts allowing you not to worry about it for a long period of time. When your supply is low, you simply purchase more.
What's the benefit of Prepaid? Because you pay for the electricity in advance, Prepaid does not require a deposit and there are no late fees. Also, most folks become more in tune with their electric usage and will in turn decrease their usage, on average, around 10 percent!
How does Prepaid billing work?
With Prepaid, you pay for electricity how and when you choose. Purchasing electricity before you use it allows you to control your budget and pay how much you want, when you want. Also, there are no security deposits or late fees. Your usage and balance or credit are calculated daily. If your account runs out of credit it will be subject to disconnection and reconnected when a credit is re-established.
SWEC gives you 24 hour access online, through the SWEC smartphone app or over the phone. As always, payments can be made in person at any SWEC office during normal business hours or in the after hours drop box available at all offices.
Daily alerts are sent by text or email keeping you up to date on your usage and remaining credit. When your account runs low on credit you will get an alert letting you know it's time to recharge your account to avoid disconnection of service.
Why choose Prepaid billing?
Would it be easier for you to make smaller daily, weekly or biweekly payments rather than one large payment each month? If you struggle to make one, large payment every month, Prepaid is a nice option allowing you to pay as your schedule and budget allow. With Prepaid there is a minimum fee of $1.00 per day (effective April 20, 2017 this will move to $1.20 per day) as compared to $20 per month (effective April 20, 2017 this will move to $25 per month) with traditional billing; however, there are no late fees because you're never behind on your electric bill. When the "tank" runs low you can put as little or as much as you want in it.
Prepaid also works great for members who want to take control of their electric usage. By monitoring your consumption on a regular basis, you'll begin to notice patterns in your day-to-day usage. Any variation from this pattern, such as a house guest (increase) or a vacation (decrease), will become evident as you monitor your account. Monitoring and controlling daily usage can help keep electrical usage or cost down.
To learn more or sign up for Prepaid billing stop by or contact any SWEC office.