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The Ins and Outs
of Chariot Energy’s
Budget Billing
Program
Budget Billing is a great way to stabilize the seasonal fluctuations in your electricity bill. Budget Billing is designed to make your bill more predictable, so you can more easily budget for your energy costs year-round. Your statement will continue to show your actual electricity usage, but you will pay the level Budget Billing amount each month.
IS THERE A FEE TO PARTICIPATE?
There is no fee to participate in Chariot Energy’s Budget Billing program.
WHAT ARE THE BENEFITS?
Predictable monthly energy costs to help you budget expenses, simple no-cost enrollment, and an ability to start and end program participation with no penalty if you decide it’s not right for you.
WHO CAN ENROLL?
If you’re a residential Texas customer and up-to-date on your, you are eligible to enroll in the Budget Billing program.
HOW WILL MY BUDGET BILL BE CALCULATED?
Your Budget Billing amount is calculated by multiplying your average usage, over one year, by your current rate (A 10% buffer is added to account for weather/market adjustments).
WHAT IF I’M A NEW CUSTOMER AND DON’T HAVE BILLING HISTORY WITH CHARIOT?
No worries! if you don’t have any billing history with Chariot Energy, we use the historical data associated with your meter to calculate your average usage.
WHAT ARE MY MONTHLY ENERGY COSTS WITH BUDGET BILLING?
You will pay just your Budget Billing amount every month plus applicable taxes and fees. Your actual electric usage will be displayed on your energy statement. The program is designed to even out your actual usage costs over the course of a year. Every six months, we will reconcile any over- or under-payment consistent with the applicable terms of service and credit or refund any over-payments associated at each reconciliation and upon termination of service.
WHEN DOES BUDGET BILLING TAKE EFFECT?
The Budget Billing cost structure goes into effect within one to two billing cycles after you accept your Budget Bill offer.
WHAT IF I HAVE A CURRENT BALANCE ON MY ACCOUNT AT THE TIME I SIGN UP?
We encourage you to pay your current bill amount on or before the due date of the bill as you normally would. If there is still an outstanding balance on your account, your next bill will include both your previous balance along with the calculated budget bill amount for the current period. If your account is past due at the time of budget bill enrollment, we can offer you a payment arrangement.
WHAT WILL MY BILL LOOK LIKE AFTER I’VE ENROLLED?
Check out a Chariot Energy sample bill here.
WHAT IS A DEFERRED BALANCE?
The deferred balance amount is the cumulative difference between your monthly Budget Billing amount and what you would owe if you were not enrolled for Budget Billing.
WHAT DOES “TRUE-UP” MEAN?
We will reconcile any over- or under-payment consistent with the applicable terms of service and credit or refund any over-payments associated at each six month reconciliation and upon termination of service.
DOES THE BUDGET BILLING AMOUNT EVER INCREASE OR DECREASE?
Yes, it may. Each account is reviewed periodically because there are several reasons why your budget amount may go up or down. Besides rate changes and unusual weather, lifestyle changes like a new baby in the home can alter your energy use. Also, adding or removing equipment such as an air conditioner, swimming pool, hot tub, or even a dehumidifier could make a difference.
MY ACTUAL USAGE WENT DOWN, BUT MY BUDGET BILLING AMOUNT HAS STAYED THE SAME?
Your Budget Billing amount is calculated by multiplying your average usage, over one year, by your current rate in addition to the 10% buffer previously mentioned. Over the course of the year, the amount you pay will be the same as if not enrolled, you will just reap the benefit of a predictable bill amount all year long. No bill shock!
DO YOU OFFER ANY OTHER PROGRAMS THAT COULD MAKE PAYING MY ENERGY BILLS EASIER?
We do! Automatic Payments allow you to set it and forget it. Sign up by logging into your account or speaking with our Customer Care team at 855-524-2746.
HOW DO I SIGN UP FOR BUDGET BILLING?
You can sign up by calling 855-524-2746 or email us at customercare@mychariotenergy.com, and one of our customer care experts will take it from there!
WHAT IF I DECIDE BUDGET BILLING ISN’T RIGHT FOR ME?
Simply call us to end participation at 855-524-2746 or email us at customercare@mychariotenergy.com. Please note that when you stop participating in the Budget Plan, we will “true up” your budget billing to your actual charges and your next billing statement will reflect what you owe. If your Cumulative Balance is a credit, it will appear as a credit on your bill. If your Cumulative Balance is a debit, it will be added to the amount due on your next bill.