As different as each season is, each month can bring extreme weather swings too. This may impact how energy is used at home, making your monthly energy bill look different from one month the next. To take a proactive approach at budgeting your monthly energy costs, Indiana Michigan Power’s (I&M) Average Monthly Payment (AMP) plan can help provide clarity and ease throughout the year.
Calculating AMP Bill
The AMP plan allows customers to spread their costs over the entire year, so they pay about the same each month. I&M calculates this amount by adding together charges for your last 12 months, or the number of months available. That total is divided by 12, or the number of months available, to get your average use per month. This amount may chance slightly each month based on usage. The difference between the amount you pay, and your actual bill is added or subtracted from a deferred balance throughout the year.
What is a deferred balance?
Your deferred balance is the difference between the amount you pay on the AMP plan and the actual amount of energy you use. For example, increased use of your air conditioning during a hot July may cause higher energy use than June, which might have been cooler. That extra cost would be added to the deferred balance, keeping the amount due in July consistent with the previous months.
Getting Started
To begin, simply log into your I&M account and we will let you know what your monthly payment will be. If the program and that amount work for you, accept the terms and “enroll.”
Don’t have an online account? Visit the account page on our website to register with an active email address along with phone number, address or account number.
Your AMP plan will renew each year on the anniversary date of when you enrolled as long as your account remains active and the account balance is current.
Available to Help
Should you run into issues with your online account or have other questions related to your online account, please visit the contact page on our website or call our Customer Solutions Center at 800-311-4634 in Indiana and 800-311-6424 in Michigan.
Also see: Resources to Ensure I&M Bill Pay Ease