Members see overall decrease in 4Q rates

Last Updated: 
October 3, 2022

Palmer, AK – Starting October 1, members will see an overall decrease in rates, primarily due to a 6.1% decrease in the Cost of Power Adjustment (COPA) rate from the prior quarter, which is subject to RCA review and approval. This overall rate decrease is being partially offset by a 1.5% increase in base rates, which also takes effect October 1 and has been approved by the RCA. A typical MEA member consumes approximately 673 kWh per month and can expect to see an overall decrease of about $1.86 on their monthly bill due to these fourth quarter rate revisions.

The COPA and base rate components of rates are filed for RCA approval separately and fluctuate independently with actual costs. The COPA component of rates primarily includes fuel and purchased power costs, while the base rate component (consisting of the “energy” and “demand” charges)includes the bulk of the other costs necessary to bring power to our co-op members’ homes and businesses.

MEA’s Board of Directors voted to increase base rates in the fourth quarter by 1.5%.Base rates had remained unchanged in the previous two quarters. MEA may file limited base rate increases or decreases on a quarterly basis, provided the adjustments stay within certain financial parameters established by the RCA. All rates are subject to a variety of factors including member electric use, weather, inflation, and other economic factors.

Tips for Saving Energy and Money

As winter approaches, many of us start to use more electricity in our homes and businesses for lighting and heating. Here are some helpful tips on how you can save energy and money during the “ber” months:

·        Switch to LED’s – a 60-watt incandescent light bulb used for 8 hours a day for a month will cost roughly $2.98 on your bill. Switch to an 8.8 watt LED and it will cost approximately 44 cents on your monthly bill. Multiply that by all the lightbulbs in your home, and you will see the savings start to add up fast.

·        Try to use non-electric sources for heating – heating with electricity is one of the biggest consumers of energy. For example, a standard space heater (to heat up an office or room)uses on average 1,500 watts of electricity. Having a space heater on for 8 hours a day for one month will cost approximately $75 on your monthly bill. Work on ways to keep heat inside by eliminating air leaks and drafts, use insulated curtains and shades, and replace your furnace filter regularly.

·        Turn the thermostat down when you are sleeping or are away – According to the U.S. Department of Energy, turning your thermostat down 6-10 degrees for eight hours a day can save you as much as 10% on your energy bill. A smart or programmable thermostat also can be programmed to a lower temperature based on when you are usually home or away. Thermostat placement is also important; avoid placing the thermostat in areas that can have temperature extremes such as near the main door, near windows, or in places that don’t have a lot of traffic or use.

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