In order for any customer owing arrears of any kind for electric service to obtain service or continue service, the customer must either pay the arrears or enter into an agreement with the utility to pay. As a regulated electric utility, the Board of Public Utilities (BPU) is obliged by law to make payment agreements available to customers whose payments are in arrears to help them get up to date. The agreement must be fair and must be based on your ability to pay.
Provide a Financial Statement
Before a standard payment agreement is made, the customer maybe required to complete a financial statement. The usual agreement calls for a down payment of 15% of the amount considered in arrears and then monthly payments of one-tenth of the balance.
To keep the payment agreement, the customer must make the agreed upon payments and pay all current amounts. Any account with a payment agreement that has a current amount due go into arrears is in default and may be disconnected.
Any customer on a special payment agreement is not eligible for an additional payment extension.
If the customer should default, the payment agreement may be reinstated by paying the current charges that have gone to arrears and making the payments agreed upon in the original agreement.
The agreement can be changed if you can show the utility that there are significant changes in your financial condition beyond your control.