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Each February / March, Guelph Hydro / Alectra Utilities reviews the accounts of all Equal Payment Plan customers to settle any outstanding account balances and determine the equal payment amount to be paid for the next 12 months. Your Equal Payment Plan Reconciliation statement sent out in late February or early March. Please review your statement when it arrives to see what your new monthly payment will be.
If an amount is owed to you |
If the annual reconciliation shows an overpayment, or credit, on your account, the amount is automatically rolled into next year's Equal Payment Plan, resulting in lower monthly payments. If the credit on your account exceeds your average monthly bill, you have two choices:
We recommend you have the credit rolled into the next year's Equal Payment Plan to reduce your monthly payment but, should you choose to have the credit issued as a cheque, we must receive your request no more than 10 days from the date of the Equal Payment Plan Reconciliation statement. We strongly encourage you to review your Equal Payment Plan statement when you receive it to ensure cheque requests are made on time. |
If an amount is owed by you |
If the annual reconciliation shows an underpayment, or balance owing, remaining on your account, the amount owing is automatically rolled into next year's Equal Payment Plan, increasing your monthly payments. |
How can I tell if there is a credit or a balance owing on my account? |
Credit and balance owing amounts are listed on your monthly Equal Payment Plan statement. We encourage you to review your statement periodically so you can see the status of your account and make any adjustments if necessary. If there is a dash next to your balance forward, there is a credit on your account. |
What options do I have if I want to reduce the balance owing on my account? |
If you want to reduce a balance owing on your account, you can:
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How did the balance owing on my account get so high? |
In addition to seasonal changes (electric heating and lights in the winter, air conditioning and pool pumps in the summer), an increase to the balance owing on your Equal Payment Plan is usually related to changes in your household electricity or water consumption, such as:
You can see where energy consumption patterns have changed by registering for MyEnergy View and looking at your consumption patterns, or by referring to the "Electric Consumption" chart located on the back of your Equal Payment Plan statement. |
Your Reconciliation Statement looks like a normal bill but contains the words "Equal Payment Plan Reconciliation Statement" at the top.
Below is a close-up view and description of some of the key sections of your Equal Payment Plan Reconciliation statement.
Section 1: Equal Payment Plan Balance | ||||||||||||||||||||||||||||||||||||||||||||
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Section 2: Current Electricity Charges | ||||||||||||||||||||||||||||||||||||||||||||
The "Your Electricity Charges" section lists charges incurred in the current billing period.
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Section 3: Other Charges | ||||||||||||||||||||||||||||||||||||||||||||
Other charges include HST and, if you are a Guelph resident, water and stormwater charges.
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Section 4: Summary | ||||||||||||||||||||||||||||||||||||||||||||
Should you choose to discontinue with the Equal Payment Plan, the Invoice Total is the amount that would be due for immediate payment to Guelph Hydro, or credited to your account. |
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Section 5: Your New Equal Payment Plan Monthly Payment | ||||||||||||||||||||||||||||||||||||||||||||
This section shows your new Equal Payment Plan amount and the date your bank account will be debited. Your new Equal Payment Plan amount is calculated by taking the sum of all of the charges on your account over the previous 12 months, including the reconciliation amount, and dividing it by 12. This is the amount you will be paying on your Equal Payment Plan until your account is next reconciled or reviewed. |