Budget Billing
What Is Budget Billing?
Budget Billing gives you more predictable energy bills by balancing seasonal high and lows, taking the guesswork out of your monthly bill. Once signed up, you'll pay a similar amount every month - making budgeting and planning much easier. Benefits of Budget Billing include:
- It's predictable - you always know what your bill will be
- It helps you stay on budget
- The program is free, and you'll only pay for the energy that you actually use
How it works
You still pay for all of the energy you use, but your total costs are spread evenly throughout the year. Budget Billing amounts are evaluated twice a year, usually in February and August, and may go up or down based on your actual usage and updated energy costs.
Budget Billing Keeps Your Energy Costs Steady
This chart shows how PNM Budget Billing helps keep monthly electric bills predictable throughout the year. The blue bars illustrate how actual monthly energy costs can rise and fall with seasonal usage, while the horizontal line shows a steady Budget Billing amount of $97. Instead of paying higher bills during peak months and lower bills during off-peak months, Budget Billing averages those costs so customers pay the same amount each month, making it easier to plan and manage household expenses.
Who is eligible?
Your account must be current to sign up for Budget Billing online and we recommend having seven months of energy usage history at your service location.
If your account is past due, you may still be eligible. Call us at 888-DIAL-PNM for additional consideration.
Frequently Asked Questions
Budget Billing allows you to pay the same amount each month, removing the monthly fluctuations caused by weather, changing usage and other factors.
Your account must be current to sign up for Budget Billing online. You may be eligible for Budget Billing even if your account is past due. You'll need to call (888) DIAL-PNM for additional consideration.
Budget Billing is not a discount program. Instead, it averages out your costs over twelve months based on your previous year's usage. You still pay for what you use.
If you have used more electricity than you've paid for and cancel your participation, that overage will be added to your next bill.
Budget Billing amounts are evaluated in August, and they may be adjusted up or down based on your usage and updated estimates of energy costs. In February we'll also let you know if, based on your usage, you can expect your payment to go up or down.
Your Budget Billing payment is based on two primary factors ¿ your energy use for the last year and estimated costs for the upcoming year. It's best if you've been at your service location for at least seven months so we can accurately calculate your projected usage.
Your monthly bill will still show your actual usage and charges just as you're used to. From that perspective, nothing will change. On page 2, you'll see a section titled "Your Budget Bill" which details your Budget Bill balance. If that amount is negative, you've paid for more electricity than you've used. If that amount is positive, you've used more electricity than you've paid for.
It's best if you have been at the service location for at least seven months so we can accurately calculate your projected usage.
You can discontinue Budget Billing at any time. If you have paid for more energy than you have used, we'll credit your next bill. If you've used more energy than you've paid for, it will be added to your next bill.