Tampa Electric's Levelized Payment Plan Instantly Makes Customers' Electric Usage More Affordable
TAMPA, August 17, 1998
Tampa Electric residential and small business customers looking to make comfort more affordable during Florida's record hot weather can instantly even out the highs and lows of their electric bills with the company's Levelized Payment Plan.
Customers who qualify may sign up for the Levelized Payment Plan by paying the "levelized" billing amount listed in the message at the bottom of their bills.
The Levelized Payment Plan is designed to make electric usage more affordable by leveling the highs and lows many customers notice on their electric bills during the summer and winter months, when air conditioning and heating systems are working harder to meet customers' energy needs.
The plan, which is free and available to residential and small business customers who are current in their bill payments, allows participants to pay basically the same amount for electricity each month, based on their average energy use during the previous 12 months.
The monthly levelized bill payment is calculated by averaging the kilowatt-hours used during the prior 12-month period, then multiplying that number by the current kilowatt-hour cost.
The average monthly payment for customers with Tampa Electric service for less than one year will be calculated from the time electric service begins.
More than 75,000 residential and small business customers now use Tampa Electric's Levelized Payment Plan to make year-round budgeting more predictable.
Because monthly levelized bills are based on the average use of electricity, each month customers will pay for either more or less electricity than actually used. A portion of the Previous Deferred Balance will be added to or subtracted from customers' monthly averaged electricity cost.
Additional charges for other Tampa Electric programs and services customers choose to participate in will be itemized separately and added to the total averaged amount due each month.
Tampa Electric is the principal subsidiary of TECO Energy, Inc. TECO Energy is a diversified, energy-related utility holding company also based in Tampa. In addition to Tampa Electric, its principal businesses include Peoples Gas, TECO Coal, TECO Transport, TECO Coalbed Methane, TECO Power Services, and Bosek Gibson and Associates.
Ross Bannister –