Co-op Power PrePay

Co-op Power PrePay

 

Co-op Power PrePay

Co-op Power PrePay allows you to pay when you want, in the amount you want. Instead of receiving a paper or an electronic bill each month, usage is calculated daily. Co-op Power PrePay members never pay a late charge, disconnect fee, or reconnect fee.

Is PrePay the right choice for me?
Would it be easier for you to make weekly or bi-weekly payments rather than one large payment each month? If so, PrePay may be for you. Statistics indicate prepay electricity programs help lower electric consumption due to members’ awareness of usage patterns. Therefore, any member interested in monitoring and lowering his or her electricity use could potentially benefit from the PrePay program.

How does PrePay work?
PrePay works similarly to a prepaid cellular phone. You put money into your PrePay account, and as you use electricity, the cost of the usage will be deducted from your PrePay account balance daily.

What if my PrePay account runs low?
You will receive a low-balance notice by email and/or text message based on the notification preference you set on your account. This will give you time to purchase more power before the meter stops.

What if my PrePay account runs out?
If funds in your account fall to a negative balance, your electric service will be automatically disconnected. Holidays, weekends and inclement weather, including extreme heat or cold, will not postpone or prevent termination of electric service. You will be notified by email and/or text message that your service has been disconnected. Once your outstanding balance, plus the minimum payment, is made, your service will be reconnected within minutes.

I have a traditional account. Can I switch to PrePay?
Yes! You can switch to a PrePay account even if you already have service with South Plains Electric Cooperative. The existing security deposit will be credited to your current account balance.

Eligibility
New and existing residential members may qualify for Co-op Power PrePay.

New members pay a $35 initial payment to establish a PrePay account.

Existing members may convert to a PrePay account. Deposits will be applied toward any outstanding balance with the remaining amount applied to the PrePay account as a credit. Existing members, with billed or unbilled account balances, may either pay the existing balance or may qualify for the Cooperative’s debt management system (details below). Members with levelized billing or automatic bank draft are not eligible for a PrePay account.

Security Deposit, Credit Check and Fees

  • No security deposit for PrePay members.
  • No credit/identity check is required, but we will check our records for any outstanding balances.
  • $35 initial payment for new members with $25.00 applied as a credit and $10.00 as a connect fee.
  • $25 initial payment for existing members applied as a credit.

Payments and PrePay Account Balance Notification
Once an initial credit balance is established, members may make payments with cash, credit cards, or checks.

Members can choose to receive periodic, courtesy notifications of account balances via text messaging and/or email. Member understands he/she is not entitled to any advance notice before electricity can be disconnected. Failure to receive these notifications does not release member from payment obligations. Members change notification settings for the PrePay account, check balance information and make payments via: 

  • Phone by calling 806.775.7811 and pressing “2”.
  • The Cooperative’s online bill pay site at www.SPEC.coop (link is external).
  • The Cooperative’s free bill pay app, available at your app store.
  • Your local Cooperative service office.
  • If you have any problems, please call our office directly at 806.775.7732. Someone is available 24/7.

Once a PrePay account is established and a credit balance is realized, the member’s home energy usage is recorded and charged daily to the account. The credit balance is reduced daily by the amount charged until either the balance is exhausted or additional payments are made to the account.
 
Member understands it is their obligation and responsibility to manage and update the notification settings on the PrePay
accountAny account that has a negative balance or has a check returned is subject to immediate disconnection. If a payment is made outside of normal Cooperative business hours, credit to the account may be delayed. Extenuating circumstances may delay reconnection of service if payments are made after 5 p.m.  Energy assistance or other similar payments are added to the PrePay account when cash is received. Pledges or similar documents of intent will not prevent the termination of electric service.

Debt Management

Existing members with account balances may be eligible to use the debt management program. Upon PrePay enrollment, 25 percent of each payment will be applied to the debt until the balance is eliminated. The other 75 percent of each payment becomes a credit on the account.
  
Disconnection

An account will be subject to immediate disconnection any time the account fails to maintain a credit balance. Holidays, weekends and inclement weather, including extreme heat or cold, will not postpone or prevent termination of electric service. Any returned check or other fees on the account will be charged to the member’s account immediately, reducing the credit balance available for electric usage. If this causes the credit balance to be exhausted or have a negative balance, service will be subject to disconnection. Member is responsible for any balances due as a result of usage or fees incurred in excess of the credit balance. If an account is disconnected and is not reactivated within ten (10) business days, the account will be considered inactive and a final bill will be mailed to the last known address on file. 
  
Reconnection

To restore service, member must pay any outstanding balance plus a minimum of $10 to reestablish a credit on the account. Energy assistance pledges or similar documents of intent will not prevent the termination of electric service and are added to the PrePay account when cash is received. Member understands and agrees that disconnected power will be reconnected without prior notice once a credit balance is re-established. Member will ensure that electrical safety issues are addressed prior to re-establishing a credit balance. The Cooperative is not responsible for damage caused as a result of unsafe conditions in the home when electric service is re-established; i.e. stove is left on with materials on it causing a fire. Member must ensure that it is safe to restore electric service to his/her home prior to re-establishing a credit balance. 
  
No Monthly Billing Statements
PrePay members do not receive monthly billing statements. PrePay members understand and agree they will not receive regular monthly bills or disconnect notices, only account balance notifications. Balances reflect account information as of the last recorded meter reading and payment. Refer to the “Payments” or “PrePay Account Balance Notification” sections for information about retrieving account balances. It is the member’s obligation to know and determine the amount of cash available in the PrePay account at any point in time.
  
Cancellation or Conversion of PrePay Service
Member may convert PrePay account to postpaid account at any time, provided there is a credit balance on the account. An adequate security deposit will be required. Service terminated at the request of the member will receive a refund of any remaining credit on the account.
  
Indemnity
Member understands that South Plains Electric Cooperative is providing the PrePay account at the member’s request. Participant agrees to indemnify and hold harmless the Cooperative, its employees and agents, for any and all losses and damages incurred, be they real or consequential, including death, as a result of participation in Co-op Power PrePay, or as a result of electric service termination. Any person that is, or will be, residing at a location with a medical condition, or a person requiring electric service to operate medical equipment needed for their health and well-being, is member’s sole responsibility. Member knows and accepts that there are medical risks associated with PrePay service’s immediate termination of electric service and recognizes that member is solely liable for all losses and damages incurred under these circumstances.