Lower Yellowstone Rural Electric Cooperative (LYREC) will be offering members with a standard single-phase service a new way to pay for their electricity. Prepay metering does not use the traditional billing process, where you pay for the electricity after you use it. Instead you pay for your electricity before you use it. It’s like filling your car with gasoline. You monitor the fuel level and decide when you should refill.
To establish a new account with the prepay metering option, the member must sign a prepay service agreement and make a minimum payment of $25. For existing members, the balance up to the current reading must be paid in full and a $25 credit must be applied to the account prior to switching to prepay metering.
The prepay meter is read daily and your account balance is reduced by the previous day’s usage. The member is responsible for monitoring his or her account balance and will not be receiving a monthly bill. Once the account balance is $25 or less, the member will receive alerts by e-mail and/or text message. If the account balance reaches zero, power is automatically disconnected until payment on the account is received. Once the account has a credit balance of $25, the meter will automatically be reconnected.
There are several benefits to the prepay metering program. As a new member, the member may choose prepay metering in lieu of paying a security deposit. A member may make several payments throughout the month rather than one lump sum. However, the minimum payment must be at least $25. If an existing member opts to switch to prepay, any deposit fee previously paid by the member will be applied to the member’s outstanding balance. There are no extra fees associated with prepay metering or disconnect/connect fees.
Due to the way the disconnect meters work, not all meters are eligible for the prepay metering service. If you would like more information on prepay metering, please call our office at 406-488-1602.