Budget billing program returns
News from Mission Valley Power
LAKE COUNTY — It’s that time of the year again if you participate in Mission Valley Power’s Budget Billing program.
Each year leading up to June, your payment amount is recalculated and adjusted based on your last 12 months’ average usage. At that time, if you owe extra or have accumulated a credit it is also calculated into your payment amount. You may have noticed this year that your payment has increased more than in previous years, and you aren’t alone. This is the unfortunate effect of several factors that came into play in the past 12 months. In addition to a change in rate structure implemented at the beginning of 2022, Mission Valley Power and its ratepayers are experiencing the effects of an increased cost of wholesale power that was applied in a rate increase, effective October of 2022. Add to that the near-record number of consecutive cold days and the extreme levels of cold we experienced this winter and now we’ve all experienced a dramatic effect on our power bills. Budget billing is still a valuable tool in spreading your power costs throughout the year and allowing you to anticipate your payment amount each month, especially during unpredictable events such as we faced in the past year.