Palmer, AK – Starting April 1, members will see a slight overall increase in rates due to an increase in the Cost of Power Adjustment (COPA) rate. Although, MEA’s Board of Directors determined at the February Board meeting to not change base rates during the second quarter, the COPA component of rates, which primarily recovers fuel and purchase power costs is increasing by approximately 2.4%, subject to RCA review and approval.
A typical MEA member consumes approximately 673kWh per month and can expect to see an overall increase of about $1.12 (or 0.8%) on their monthly bill because of this COPA increase. The increase in the COPA is primarily due to an increase in projected purchase power, partially offset by decreases in projected fuel. The COPA component of rates primarily includes fuel and purchased power costs, while the base rate (or “energy charge”) includes the bulk of the other costs necessary to bring power to our members’ homes and businesses. Rates are reviewed quarterly by the RCA and are subject to a variety of factors including member electric use, weather, inflation, and other economic factors.
MEA may file limited increases or decreases in rates on a quarterly basis, provided the adjustments stay within certain financial parameters established by the RCA.