FAIRMONT, W. Va., Nov. 29, 2012 /PRNewswire/ -- Mon Power is revising its payment plan options for customers who may need help paying their electric bills in the aftermath of Hurricane Sandy.
The changes make the plans more flexible than the current installment plan arrangements. The revised plans will remain in place through March 15, 2013.
"Hurricane Sandy was a devastating storm and continues to be a financial hardship for many of our customers," said Ronald I. Green, vice president, Customer Service, FirstEnergy. "Whether it be lengthening the payback period or reducing the down payment amount, our goal is to tailor the payment plan options to better assist customers in the hardest-hit areas."
Among other changes, the new payment plan arrangements for Mon Power customers include the following:
- Customers are only required to pay 25 percent of the total past-due balance rather than the current 50 percent. These guidelines apply to customers who have received termination notices as well as those who have established new payment agreements with Mon Power.
- If the balance is less than $600, customers can opt for a three-month payback period.
- If the balance is more than $600, customers can opt for a six-month payback period.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts