What is it all about?
Your advance payment covers the power we expect your site to use over the coming period. At the end of the 55 days – your site will have used the amount of power approximately equal to the advance payment amount.
If you are using Flow Power for the first time, you will be asked to provide your last 12 months of energy history to estimate the first bill. Don’t worry – if the numbers are off, it will be fixed in the next advanced payment amount.
Why does it exist?
Put simply, your advance payment allows us to buy your power from the market as you use it – without having to worry about the cost of finance. Other retailers borrow from banks in order to send you a bill after each month. Flow Power reduces your costs with the 55-day advance payment.
So, how does it work?
1) Flow Power estimates your site’s usage for 55 days (based on your historical data) and sends you the invoice for that amount.
2) At the end of each 55- day period, your prepayment amount is dynamically adjusted for the next 55-day invoice using the most up-to-date data.
3) Each invoice will also include a line item (either as a credit or a debit) to reflect and correct any difference between the previous period’s prepaid amount and actual power used.
Why is it 55 days?
The 55-day time period includes:
- 31 days of billed usage for upcoming month
- Up to 10 days to process the invoice
- 14-day payment terms
Follow our timeline to understand the advance payment timeframe:
Have questions about advanced payments?
The Flow Power team is online Mon-Fri 9 am – 5 pm via the chat feature at the bottom of your screen, or you can get in touch below.