No more bill shock
Enova’s monthly payment arrangement, which enables you to pay by monthly instalment, is designed to help customers like you to manage your household budget. Smaller monthly instalments are designed to so you don’t get ‘bill shock’ at the end of the quarter.
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 instalments payments made relating to the quarter.
Jane’s estimated annual energy spend is $1800.
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 instalment in month 1||($150)|
|Less monthly instalment in month 2||($150)|
|Equals settlement amount due on qrtly bill – month 3||$160|
If you’re paying by direct debit, we’ll deduct the funds from your nominated account automatically.
How does Enova determine my monthly estimate?
We’ll look at your historical consumption to estimate the monthly instalment for your household or business.
If we don’t have this information at the time of signing up (for example when you’re signing up on line), we’ll ask you for some information about your household –like where you live, the number of people in your household and whether you have a solar panels.
Your answers will help estimate how much electricity your household is likely to use. An estimate for the monthly instalment is calculated by applying the Anytime peak only prices to your estimated electricity consumption, with any features or other discounts in your chosen Energy Plan also applied.
If you have solar panels, a solar system size of 2.6 kilowatts and average insolation for northern NSW are assumed to calculate the amount of electricity your system produces. It estimates that you use 60% of the electricity produced by your system and you export the remaining 40% to the grid. A feed-in tariff is applied based on a net metering arrangement to calculate how much you receive for energy which you export back to the grid.
The solar estimated saving shown is made up of money you save from using the electricity produced by your solar system and used in your home, PLUS money you receive from excess electricity that is fed back into the grid. This is not a quote, the actual money saved will depend on your actual consumption and your actual system size, location, insolation and efficiency.
The rates used for estimating the monthly instalment amount are published in the Energy Price Fact Sheet.
It’s important to remember that the monthly estimate is not a quote, it is an estimate that is used solely for the purpose of calculating your monthly instalment amount.