Prepayment
Pay Your Way is MEC’s prepay billing option allowing members to take control of their member account. A good analogy is putting gas in your car – the more you put in, the farther you can go. You can either fill the tank full or put in $5 every day. With traditional billing, members consume the electricity and we bill them for what was used. In contrast, with Pay Your Way, enrolled members maintain a credit on their account, and prepay for electricity prior to using it.
If this sounds like a program you’d like to take advantage of, there are two simple ways to sign up. You can either download a Prepayment Agreement and return a copy to our office by mail or in person, or submit a Prepayment Agreement online.
Frequently Asked Questions
What is the advantage of Pay Your Way?
Likely, the biggest advantage to Pay Your Way is that it puts you in complete control of your account. That means you can pay what you want, when you want. This means no surprise bills in the mail. In fact, you won’t receive any bills since Pay Your Way accounts are paperless.
My credit history is not great. Can I sign up for Pay Your Way?
Yes. Pay Your Way accounts are a great option. When you apply for membership with MEC, we run an online utility-focused credit check. Depending on the results, we may require a deposit that could be equal to two times (2x) the highest monthly bill for the residence over the past year. Pay Your Way is different. We do not require a credit check or a deposit.
How will my Pay Your Way account be billed?
Traditional accounts are billed for the total kilowatt-hours used during the previous period as well as a base fee each month, but Pay Your Way accounts don’t receive a monthly bill so we handle them a little differently. Each day we calculate how much energy was used in the last 24 hours, multiply the energy used by the cost per kilowatt-hour and deduct it from your account balance. In addition, we take our normal base fee and convert it to a daily charge which is also deducted from your balance.
If I don’t receive a bill, how do I manage my account?
Pay Your Way accounts are convenient and easy to manage using your phone, tablet or computer and our SmartHub account management tool. SmartHub lets you add money to your account, track your usage and receive low-balance alerts. That’s right – when your balance gets low, we’ll send you an alert via e-mail, SMS or text to let you know its is time to add more credit; think of it like the little light that comes on when your gas tank is on empty.
What happens if I do not maintain a credit balance on my Pay Your Way account?
All Pay Your Way accounts must maintain a credit balance. If a Pay Your Way account balance falls to zero ($0.00), the service will be subject to immediate disconnect. To restore service, a minimum credit balance of $10 must be met. Once a credit balance of $10 or greater is detected, the meter will immediately reconnect.
What about fees?
We’ve all done it — missed a payment and earned a late fee. With Pay Your Way, we’ve eliminated all penalties, late fees and notices. Instead, we put you in control with SmartHub and account alerts. No late fees and no surprises. When your balance falls below $25, we send you an reminder to add more funds to your account.
Does it cost anything to set up a Pay Your Way account?
Pay Your Way accounts require a $25 set-up fee and a minimum energy purchase of $25.
I have an MEC account with a security deposit. Can I convert it to Pay Your Way?
Yes, existing members can convert their accounts to Pay Your Way accounts. Best of all, we will credit your Pay Your Way account with your initial deposit, so you can put that money to work.
Can I convert a Pay Your Way account to a traditional account?
Yes, you can convert to a traditional billing account at any time. Prior to conversion, your account may require a paid-in-full deposit based on results from an online utility credit check.
