“The driving force in this significant decrease is that mild winter weather and natural gas costs that were even lower than what was forecasted last summer led to bill amounts that were lower than expected this past heating season,” said Colleen Ryan, president of the company. “As such, many customers accumulated a large credit balance throughout the winter, which is helping to reduce Budget Bill amounts for the next 12-month period.”
Under the Budget Bill payment plan, a customer’s estimated costs for a year of natural gas service are spread out in equal monthly bill amounts for the year. Monthly payments are based on past energy consumption over 12 months for the home, forecasted natural gas costs and normal weather. Typically, amounts are adjusted annually in the summer for actual costs, and the customer’s credit or amount due rolls into the next calculation for the next 12-month period, the company said.
Vectren said some Budget Bill customers may not see as large of a decrease due to the timing of their enrollment or variances in historical consumption.
Residential customers, certain small businesses, small farms, schools and nonprofit organizations in good financial standing with Vectren are eligible for Budget Bill. Customers can enroll for free at www.vectren.com or by calling 1-800-227-1376.
Vectren Ohio serves 315,000 customers in all or portions of Auglaize, Butler, Champaign, Clark, Clinton, Darke, Fayette, Greene, Highland, Logan, Madison, Miami, Montgomery, Pickaway, Preble, Shelby and Warren counties.