FPL Budget Billing is a program that helps make your electric bills more predictable by averaging your home's energy use over the past 12 months. Instead of paying varying amounts each month based on actual usage, you pay about the same amount every month throughout the year. This helps smooth out seasonal fluctuations in your energy costs. Key features of FPL Budget Billing include:
- Your monthly bill is calculated based on the average of the last 12 months of actual electric bills plus 1/12 of any deferred balance.
- You continue to receive a monthly statement showing your actual consumption, actual charges, and the Budget Bill amount.
- Differences between your actual monthly charges and the Budget Bill amount are recorded as a deferred balance, which is either added to or subtracted from future bills.
- The program is not a savings plan—you pay for the energy you use, just spread evenly over the year.
- You must have no delinquent balance to be eligible and can opt out or be removed if your account goes into collections.
- If you leave the program, any deferred balance is settled on your next bill, and you cannot rejoin for 12 months.
- If your account has less than 12 months of usage history, FPL uses a combination of your and the premise's billing history to calculate your Budget Bill.
Essentially, FPL Budget Billing provides a smooth, levelized electric bill each month to help you manage your finances better without sudden spikes due to seasonal usage changes. However, at the program's end or if you cancel, you may face a catch-up charge if there is a deferred balance owed. This program is aimed at both residential customers and businesses to allow for easier monthly budgeting of electric costs. This explanation is based on FPL's official descriptions of their Budget Billing program.
