Looking for a way to keep your electric bills on the level each month, no matter what the weather outside?
This free payment option “levelizes” those monthly peaks and valleys in your electric bill, allowing you to pay about the same amount for your energy use every month – no matter what the weather!
Because the levelized payment plan is based on the average use of electricity, each month you may pay for either more or less electricity than actually used. That means avoiding high bills in the summer or winter because your payment will be based on your average annual bill.
To calculate your “levelized” payment amount, we simply average the kilowatt-hours you’ve used during the past 12 months. Then, we multiply this monthly average by the current kilowatt-hour cost. The result is your average monthly payment.
The difference between your actual billing amount and levelized payment is called a deferred balance and is shown on your electric bill each month. A portion of the Previous Deferred Balance will be added to or subtracted from your monthly averaged electricity cost. As an added benefit, there is no additional cost or interest charged to you for this program.
Additionally, if a customer chooses to stop participation from the program, Tampa Electric will apply all credits or debits to your electric bill.
If you’re a new customer (less than 12 months), you can still participate in our Levelized Payment Plan. We’ll calculate your average monthly payment from the time you started service with us. Fill out our online application form to find out if you’re eligible.
As a Levelized Payment Plan customer, we will continue to read your electric meter each month so you can see your actual electricity usage and cost.
Download our Levelized Payment Plan brochure.
