What is the Equalized Payments Plan?
The Equalized Payments Plan (EPP) is when we spread the annual cost of your electricity usage equally throughout the year, so that you pay the same amount each month. EPP can be helpful for those who heat their homes with electricity, as it eliminates any surprises on your bill during the coldest months of the year. There is no fee associated with using the EPP.
How it works
Your monthly payments will be based on your actual usage from the previous 12 months. On your EPP anniversary, we will compare the amount of electricity you used to the amount that was estimated for your payments. If you use less electricity than estimated, you will receive a bill credit. If you use more, you will be debited on your anniversary bill for the additional usage. We will send you an email on your anniversary with these details.
On your EPP anniversary we will also tell you your new payment amount, which will be reflected on your next bill. Each year, we will continue to update your payment amount on your EPP anniversary to make sure it is reflective of your usage from the previous year.
To qualify for the equalized payment plan, you must:
- Have been a Maritime Electric customer for one year and have lived at your current residence for a minimum of 12 months;
- Not be a seasonal customer;
- Sign up for pre-authorized payments for the account; and
- Be up to date on your current bill payments and make all subsequent payments by the due date.
Get started
Contact us to see if you qualify.
Important note: If you are planning to install a heat pump, or other large user of electricity (such as an EV charger), we recommend waiting until you have had the heat pump for one year before signing up for EPP. This again ensures your usage history is accurate for your equalized payments.
Frequently asked questions
Does the equalized payments plan save me money?
No, it helps you manage your budget by spreading the cost of your annual electricity usage out equally throughout the year. On your EPP anniversary, we will adjust your final bill to reflect your actual usage.
Tip: Keep track of the kilowatt hours (kWh) you use each month and compare to the previous years’ usage to stay on top of your actual usage throughout the year. You can see an overview of your usage in the bottom left-hand corner of your electricity bill. If you are using a lot more than the previous year, contact us to discuss your options.
Why do I need to have lived at the same residence for a year to qualify?
This is a requirement to accurately estimate the amount for your equalized payments based on your home and lifestyle.
When will my pre-authorized payment come out?
Your pre-authorized payment will come out on the due date of your bill.
I got an email saying I was disqualified from the equalized payment plan, why?
Please contact us to discuss the specifics of your account.
