MyPower Can Help You Manage Costs
Q. What is MyPower?
A. It's an electricity prepay program that lets you monitor daily energy use and cost, set your payment schedule, set energy use and account balance alerts (by phone, email or text), and forego paying a deposit if one is required. Currently more than 500 members participate in MyPower.
Q. I've heard people who use pre-pay programs reduce energy use by 10-12%. How?
A. If you're trying to use less energy and check your costs often, it's much easier to see how daily activities and weather impact your use and costs. You can make changes that make a difference right away.
With traditional billing and payment methods, you can be $250 or more behind without knowing what you did to use the electricity. MyPower members are very conscious of controlling the thermostat and learn how much electricity they need on a normal day. If something changes, they can find out what happened the next day — not four weeks later when the bill comes in the mail.
"The key requirement to keep service 'on' is to have a credit on your account," says Cuivre River's Doug Hutton, who oversees the program. “This can be as small or as large as you feel comfortable. If you need to make a payment of $5.00 each day to keep the power on, or you prefer to keep a credit balance of $200 for peace of mind, you do what works for you. That’s the beauty of the program. You are in control.”
Q. How does MyPower work?
A. A brand-new member pays $70 up front; $50 is the minimum MyPower starting balance, and all new accounts have a $20 setup fee. No deposit is required.
Startup costs vary for current members, since all accounts must be paid up to date to begin MyPower. The amount will depend on how much energy was used since the last payment. “In most instances, a member who has paid a deposit can apply it to a MyPower account, needing little or no extra funds to get started,” Hutton says.
Q. How do I access my account information and alert settings?
A. A mobile app and/or user-friendly web portal (www.cuivre.com) help you monitor your account and settings, daily energy use, charges and payments. This, along with alerts, enables members to be proactive about their account.
“The mobile app and web portal allows us to help you set up your initial alerts using text messages, phone calls and/or email," says Hutton. "Alerts notify you about a Daily Balance, Low Balance, Pending Disconnect, Disconnect, Reconnect and Payment Confirmation. You can change your settings as often as you like.”
Q. What if my funds run out?
A. Effective alerts can provide a variety of notifications before an account is at risk of "going negative" and being disconnected. The Low Balance Alert you set indicates how many days advance notice you want, based on your average daily cost. If you use about $5/day and want 7 days' notice, you set the Low Balance Alert at $35.
In extreme circumstances when your account balance may hit “0,” you get a Pending Disconnect Alert. You need only restore a minimal credit back on your account to forestall disconnection.
In contrast, when you receive a traditional bill with a disconnect notice, a payment of several hundred dollars may be required — money for energy already used a month ago, plus collect/reconnect fees.
With a new prepay rate, the cost of each kilowatt-hour (kwh) is the same, making it easier than ever to manage your average daily cost. Energy use will fluctuate, but the price will not.
To review your MyPower options and get a startup quote for your account, call (800) 392-3709, ext. 4393.