CHARLESTON, WV (WVNS) — With inflation and unexpected bills at an all time high, we are still feeling the effects and experiencing major financial insecurity.
Whether it is prices rising, supply chain problems, the COVID-19 pandemic, or other challenging and impactful conflicts still going on worldwide, the West Virginia Public Service Commission said budgeting is key for any person or household.
Utilities that use natural gas are required to file 30C cases with the Commission each year to check the comparison of changes of their purchased rates, which are usually filed by the end of August every year. Based on these indications, the cost of utilities end up paying for natural gas, three times higher in the year.
It is known that most natural gas utility companies, in accordance to every state extend an offer of a budget payment plan to accommodate their residents. The utility company will look at the gas usage of the resident that signs up for this plan, used over the past 12 months, and calculate an average monthly bill based on weather experiences and the company’s current rates. This monthly payment depends on how much the individual uses, weather conditions or changes in weather, and utility rate changes for that plan, which is modified from time to time.
The sole purpose of a good structured budgeting bill plan is for one to be able to predict their next bill, and not have to worry over a high number, making budgeting less stressful and much easier.
These budgeting plans are an optional, but encouraged tool offered by the utility companies, and if you do decide to enroll in a plan, it is mandatory that payments are made on time. This helps to continue to stay on the plan and avoid any pesky late charges.
This budget payment plan tool is a great way to keep structure when paying your bills, and it helps with better planning when caught in a financial predicament.