Are you a Volunteer Energy Cooperative (VEC) member in Tennessee? If you are, then you’ve probably wondered how to save money on your bill every month. We’ve got answers!
We know firsthand how a high power bill can destroy a low income family’s budget. That’s why we’ve investigated this utility to find all the ways you can save money.
As a Volunteer Energy Cooperative member, you may be eligible for Capital Credits.
Cooperatives are not-for-profit businesses. Members, or customers, own these cooperatives. When you apply for service and pay a membership fee, you become a member and owner of the cooperative.
Most electric cooperatives offer Capital Credits, which are basically refunds for prior electric payments. Be sure to keep your address up-to-date with Volunteer Energy Cooperative so you never miss out on your capital credits!
Levelized Payment Program can help you budget better.
By averaging your previous year’s usage over the next year, you can budget with confidence. Volunteer Energy Cooperative does not have a settlement month because they recalculate the average each month.
Get help with energy efficiency improvements.
Volunteer Energy Cooperative (VEC) will help you improve the energy-efficiency of your home! They have three programs that can help.
The eScore Residential Energy Efficiency Program can help you identify ways to save money. You can register for the program here or use the self-audit option here.
The cooperative also offers low-cost loans for help with specific energy-efficiency upgrades, such as heat pumps.
Watch out for those extra charges and seasonal rates!
At Volunteer Energy Cooperative, there are many extra charges that accompany your usage bill.
The customer charge covers expenses that wouldn’t be adequately covered by usage fees alone. These expenses include maintenance, pole testing, metering, billing and other administrative costs.
The energy charge is the product of your total monthly energy consumption multiplied by the energy rate. Usage tends to be highest in the winter and summer.
The TVA Fuel Cost compensates TVA for the fuel (coal, uranium, natural gas, etc) used to create your electricity.
There are also differing rates for each season. This is because it costs more to make energy at certain seasons. Volunteer Energy Cooperative predicts these changes will impact your bill by less than $5 per month.
High school students can get scholarships from Volunteer Energy Cooperative!
Every year, Volunteer Energy Cooperative awards senior scholarships that can be used toward freshman expenses like textbooks and tuition. The company awards $500 each semester to four graduating seniors. The student can renew this scholarship up to four times. Applications are available in December and due by March of each year.
Similarly, four juniors are selected for the Washington Youth Tour each year. These students spend a week in the capital, learning about government, leadership and public policy.
Project Deserve helps customers with their bills in emergency situations.
Project Deserve helps elderly, disabled, low income and unemployed customers with their bills in certain emergency situations. You will need to contact your local community action agency in order to apply for these funds.
Use these tips to save money on your power bill!
We have a comprehensive room-by-room list of ways that you can save money on your power bill. Check it out here!