A credit balance on your electric bill means that you have a positive balance, or an amount of money that the electric company owes you. This can occur for a few different reasons.
One reason for a credit balance on your electric bill is if you have made a payment that was larger than the amount you owed. For example, if you estimated your electric usage for the month and ended up paying more than what was actually used, the excess payment will be applied as a credit to your account.
Another reason for a credit balance on your electric bill is if you have returned something that you bought using your electric bill. For example, if you received a rebate or discount on your electric usage, that amount would be credited to your account.
Credits can also be added to your account due to rewards programs or mistakes in prior bills. If the total of your credits exceeds the amount you owe, your electric bill will show a credit balance.
What to Do
If you have a credit balance on your electric bill, you have a few options for what to do with it. You can arrange to have a check sent to you for the amount of the credit balance, or you can leave the credit on your account to pay for future charges. However, if you leave a credit balance on your account for more than 6 months, the electric company will likely send you a check for that amount.
It’s important to note that if your electric bill has a negative amount in the “AMOUNT DUE NOW” section, that does not mean you owe that amount. Instead, it means you have a credit balance, or an amount of money that the electric company owes you. In this case, your bill will say “CREDIT BALANCE” to indicate that you have a positive balance.
Overall, a credit balance on your electric bill means that you have an excess of payment or credits that the electric company owes you. You have the option to receive a check for the amount of the credit balance or to use it to pay for future charges. Just be aware that if you leave a credit balance on your account for more than 6 months, the electric company will likely send you a check for that amount.
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