How to Understand, Manage, and Pay Your Golden Valley Electric Bill

Having reliable electric service is essential for every home and business. As a customer of Golden Valley Electric Association (GVEA), it’s important to understand your electric bills, know your payment and account options, and pay on time each month. This comprehensive guide provides everything you need to know about managing and paying your GVEA electric bill.

Overview of a GVEA Electric Bill

Your GVEA bill contains detailed information on your electric usage and charges over the past month Key sections include

• Account Summary – Your account number, service address, billing date, due date, and total amount due.

• Electric Usage History – Charts your daily electric usage for the past 13 months so you can identify trends.

• Current Charges – Lists out itemized charges for the current billing period including the base charge, kilowatt-hour charges based on usage, and any additional applicable fees.

• Electric Meter Readings – Shows meter readings at start and end of billing period and total kilowatt-hours used, Readings may be actual or estimated,

• Messages – Important notices about your account, rates, or other GVEA information.

Carefully reviewing the details on your bill each month helps you understand your usage patterns and what factors impact your costs. Contact GVEA customer service if you have any questions.

Key Billing Terms to Know

Some key electric billing terms to understand include:

• Kilowatt-hour (kWh) – The basic unit of electric energy use. Your bill is based on how many kWh you use.

• Base Charge – A fixed monthly charge to cover administrative costs of service. It applies whether or not you actually use electricity.

• Delivery Charges – Fees for delivering electricity via the distribution infrastructure. Charged per kWh used.

• Purchased Power – GVEA’s costs for purchasing electricity from suppliers, passed on to customers.

• Power Cost Equalization – A credit provided by the state of Alaska to lower the electricity rates in rural areas.

Knowing these key terms helps you better understand the different components of your GVEA electric bill each month.

Billing and Payment Options

GVEA offers options to customize your billing and payment to best suit your needs:

• Paperless Billing – Have your bill emailed to reduce paper waste. You can also go paperless but keep receiving bill notifications.

• Levelized Budget Billing – Pay a consistent amount each month to avoid seasonal spikes. Your account is later reconciled based on actual usage annually.

• Automatic Payments – Have your bill payment automatically deducted each month from your bank account or charged to a credit card.

• Online Account Access – Monitor your usage and account details 24/7 using GVEA’s online portal or mobile app.

• Payment Locations – Pay by mail, phone, online, mobile app, or at one of the local business payment locations across GVEA’s service area in person.

Select the billing method and payment options that provide you the most convenience and flexibility in managing your electric account.

Avoid Late Fees with On-Time Payment

GVEA electric bills are due 20 days after the billing date. Late payments incur a 6% penalty fee on any unpaid balance.

Here are some tips to help avoid late fees:

• Mark your due date on your calendar and set payment reminders.
• Enroll in automatic payments or paperless billing with emailed notices.
• Pay online or via the GVEA app for fastest processing.
• If mailing payment, allow 7-10 business days for it to reach GVEA.
• Contact GVEA immediately if you anticipate difficulty paying on time.

Setting up alerts and automated payments helps ensure you never miss a due date. But if you do pay late, contact GVEA right away to see if the late fee can be waived, especially if you have not been late before.

Payment Assistance Programs

If you are struggling financially, GVEA offers programs to help qualified members manage their electric bills:

• Low Income Home Energy Assistance – Provides federal heating assistance funds for low income households.

• Share the Light Fund – Donations provide bill payment assistance for families in need.

• Senior Citizen Discount – Offers a lower monthly service charge for eligible seniors (age 65+).

• Physician Certification – Provides a discount if a medical device substantially increases electric use.

In addition, GVEA can arrange customized payment plans or extensions if you communicate about difficulties paying your bill on time.

Paying Your GVEA Electric Bill Online

For quick and easy payments 24/7, GVEA’s online bill pay is very convenient. Here’s what you should know:

What payment methods can I use online?

You can pay by debit card, credit card, or electronic fund transfer from your bank account.

Is there a fee for paying online?

GVEA does not charge a fee, but third-party transaction fees from your bank may apply.

Can I set up recurring payments?

Yes, you can arrange for automatic monthly payments to be made from your credit/debit card or bank account by setting up a payment profile.

When will my payment be applied to my account?

Online payments are typically applied to your GVEA account within an hour during business hours.

Paying online helps you avoid late fees and saves you time. Just ensure you are on GVEA’s official online payment portal for security.

Key Takeaways for GVEA Bill Payment

• Carefully review your GVEA electric bill each month to understand the rates and fees.

• Choose paperless billing and automated payments for convenience.

• Pay your bill in full by the due date to avoid late fees.

• Assistance programs are available if you are struggling to pay.

• Paying online with GVEA’s system is quick, secure, and processed immediately.

Understanding your electric usage and GVEA bills ensures you can manage your account efficiently. Follow these tips and pay on time each month. Contact GVEA if you need any help with managing billing and payments.