Budget Pay
Manage your Monthly Budget with Budget Pay
You can more easily manage your monthly budget with Idaho Power’s Budget Pay program. Customers who enroll in the program pay the same amount each month, eliminating bills that may be higher in the summer and winter. Budget Pay customers still pay for the energy they use, but the billing amount is spread evenly over 12 months.
The monthly payment amount is based on the average of your last 12 months of bills. The amount typically stays the same for the first 12 months after enrollment, and then we re-evaluate the Budget Pay amount for the next 12 months based on the previous year’s energy use.
The above graph depicts two average electric customers’ bills both on and off Budget Pay. To view an estimate of what your Budget Pay amount would be, visit the Enrollments page in My Account or tap the Billing icon in the Idaho Power mobile app.
To qualify for Budget Pay, your payments must be up-to-date, and you need to have received service at the same address for at least nine months.
Enrollment is easy! Sign up in My Account or through the mobile app, or give us a call at 208-388-2323 or 1-800-488-6151.
Note: Budget Pay is available only to home (residential) and small business customers.
FAQ
What is Budget Pay?Budget Pay is a payment plan that helps you budget for your electric costs by relieving the highs and lows in your monthly bills. With Budget Pay, your estimated electricity charges are spread evenly over 12 months. The Budget Pay amount is based your average monthly billing.
Once your account is on Budget Pay, your next bill will note your enrollment. Your meter will still be read and your bills will show your actual energy costs, but you will be asked to pay only your Budget Pay amount. Because this is a budgeting tool, not a discount to your rates, your account is still billed for electricity actually used at the location.
Budget Pay amounts are recalculated every 12 months from the date of your first billing under the plan. The new Budget Pay amount will be based on the average of your most recent 12 monthly billings while also considering any debit or credit balance on the account from the previous 12-month plan. These changes ensure you pay the average of what is owed throughout the year and prevents a large account balance or credit from accruing. Changes to a Budget Pay plan may occur at 6 months if the calculated projected budget amount reaches 50% above or below the current budget amount.
Changes in electrical usage are the most common reason a customer’s Budget Pay amount changes. If you use more power than estimated, your budget amount may increase. Increased usage can be an added appliance, changes in the weather and more people living in the home. On the other hand, if you use less power than estimated, your Budget Pay amount may decrease.
To help you understand and manage your electricity use throughout the year, review the chart on your Idaho Power bill labeled Average Daily Energy Use or sign up for My Account to view your energy use online.
Using energy wisely will help maintain or keep your Budget Pay amount low. For energy-saving ideas, visit www.idahopower.com/save.
A rate change may impact your Budget Pay amount over time. You will see this change next time your Budget Pay is calculated.
Regular, on-time, monthly payments are essential to continue on the Budget Pay plan and to avoid late payment charges. If your monthly bills are not paid on time, late payment charges may be applied and your account may be removed from the plan. The account balance must be paid in full to re-start the program.
An energy assistance payment will apply toward your Budget Pay amount until completely used. After the energy assistance payment is used, you will continue to make payments of your Budget Pay amount. Monitor your statements and pay the amount that is marked Amount Due on your bill.
Yes. It is recommended that you enroll in both programs for maximum convenience. Remember, however, that your Budget Pay amount may change between annual reviews, so it is important to look at your statements and usage.
When Budget Pay is canceled, you must pay the full account balance or set up a payment arrangement. The amount you need to pay will be in the Amount Due box on the next bill you receive after the plan is canceled. If you have a credit balance, the credit can be applied to future bills or can be refunded.
Transferring service discontinues the Budget Pay plan, and the full account balance becomes due on the next bill. Any credit balance can be applied to future bills or can be refunded.
