No more bill shock
Secondly, monthly payments help us to better manage Enova’s cash flow. As a small community-based organisation simple financial strategies such as this help us to better manage our income and expenditure.
How frequently will I receive my bills?
You will receive a quarterly electricity bill after your meter has been read, but in between times, you’ll have scheduled monthly payments. These monthly payments you make during the quarter will be deducted from the total of your bill and you will only need to pay the remaining balance.
How does Enova’s Monthly Payment Arrangement work?
In a given quarter, you’ll pay the monthly installment amount in month 1 and month 2 of the quarter. In month 3, you will receive your quarterly electricity bill. The amount owing on this bill is a ‘settlement amount’. It is based on your usage from a meter reading. The charges, or what you have to pay at this time, is the total amount for the full three months’ usage (plus any additional fees and charges where applicable) LESS any applicable discounts and benefits, LESS the monthly installment payments made relating to the quarter.
Therefore her monthly instalment, the payment she makes in month one and month two are $150 each month.
In month three, Jane receives her quarterly bill and the amount of electricity which she has actually used for the quarter adds up $460. She has to pay $160, which is the balance remaining for the quarter.
|Total electricity used during the quarter ( 3-month period)||$460|
|Less monthly installment in month 1||($150)|
|Less monthly installment in month 2||($150)|
|Equals settlement amount due on quarterly bill – month 3||$160|
If you’re paying by direct debit, we’ll deduct the funds from your nominated account automatically.