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Originally Posted by disneysteve
You definitely don't pay any more. You just pay it in equal installments, rather than having a big electric bill during the heat of the summer and a small one during the winter (unless you have electric heat).
What you do need to realize, however, is on the equal plan, if your usage exceeds your payments, in the 12th month, you can get a large bill so you need to keep track of your actual usage. Of course, the flip side is if your usage is less than your payments, you can end the year with a credit and owe nothing in that 12th month which is always nice.
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I think everyone needs to realize that there are clearly different types of plans called balanced or equal payments, etc.
With the plan I am offered, the statement "you definitely don't pay more" is incorrect. The 12th month is not a balance month. I would pay the 121.09 a month for 12 months, then, unless I choose to opt out of the "Balanced Bill," I would be assessed a new value for the next 12 months and that would become my new fixed payment.
The only definite thing here is that "Balanced Bill" or other equal payment offers should be closely scrutinized.
I'll stick with paying for what I use. I have enjoyed watching my bill come down as I have taken steps to reduce it. I know it will be higher in the middle of July and in January. That's just not difficult to manage.
As a side comment: I also think Ima's idea earlier is a good one.