Uniondale, NY - November 2, 2016 - PSEG Long Island today announced the redesign of its Balanced Billing program, which allows residential customers on the program to know that they will receive a stable, unchanging monthly payment for the entire year.
“PSEG Long Island customers enroll in Balanced Billing because they want a truly predictable, stable bill,” said Dan Eichhorn, vice president of customer services at PSEG Long Island. “Under the old program, customers enrolled in Balanced Billing could have their payment recalculated multiple times a year because of changes to their usage pattern and the power supply charge. We knew that those changes created dissatisfaction, so we listened to our customers and implemented changes to the program that provide peace of mind and make it easier for our customers to budget household expenses, knowing what the bill will be each month.”
All customers that are currently on Balanced Billing will be automatically enrolled in the new program at the end of their current use year. At the start of the new plan year, the monthly payments will be set and there will be no fluctuations from month to month. After six months, PSEG Long Island will compare the initial projected cost to the actual cost and, if there is a large discrepancy, customers will have the option to have their bill recalculated.
If at the end of their plan year a customer has been billed more than the actual cost, PSEG Long Island will apply a credit to reduce the year-end bill. Additionally, under the new program, should a customer end up paying less than cost of the energy they used for the previous 12 months, there will be no sudden spike on the year-end bill. The excess balance will be added to the new plan year’s annual projection and equally divided across the next twelve monthly bills. At the end of the usage year, customers will still only be paying for the amount of energy that they used.
For more information on Balanced Billing, visit online.
Along with upgrading the Balanced Billing program, PSEG Long Island is currently working on several other program enhancements. The utility recently unveiled its new bill design and mobile enabled My Account platform to customers. PSEG Long Island customers will soon have the ability to pay by text and utilize an updated, mobile friendly outage map. All of these upgrades and developments are designed to make it easier and more convenient for its customers to do business with the utility.