At Enova, we’re aware that paying three months’ worth of electricity bills all at once can be a challenge for many households. That’s why we offer monthly billing for Enova customers. Smaller monthly payments mean less risk of bill shock at the end of each quarter.
You will receive monthly electricity bills. The first two of each quarter will be based on a fixed, pre-agreed amount. The third will generally be issued following your quarterly meter read, and will be more detailed, itemising the total amount owing for the quarter. Any discounts, rebates, fees or charges are applied to this more detailed bill.
For example: Jane’s estimated monthly energy spend is $300 per quarter (or $100 per month)
Upon joining Enova, Jane agreed to a monthly amount of $100, based on her most recent bill. Jane pays this amount in Month 1 and Month 2 of each quarter. In Month 3 of each quarter, she receives a bill, based on an actual meter read, which shows that electricity charges for the preceding quarter were slightly lower than usual at $250. Therefore, the amount due on her invoice is $50.
Month 1 (Monthly Bill): $100
Month 2 (Monthly Bill): $100
Month 3: Monthly Bill (reconciled bill, based on an actual meter read): $250 – $100 – $100 = $50
Note that monthly bills are not a prepayment – all payments are still made in arrears (i.e. after electricity has been consumed).