Palmer, AK - Starting in January 2024, MEA members will see a slight overall increase in their rates due to a 2.5% increase in base rates and a 0.46% increase in the Cost of Power Adjustment Rate (COPA). A typical MEA member consumes approximately 652 kWh per month of electricity and can expect a total increase of about $2.24 on their monthly bill due to these first quarter rate adjustments.
The COPA rate, which primarily includes fuel and purchased power costs, is subject to RCA review and approval. The base rate component (consisting of the “energy” and “demand” charges) includes the bulk of the other costs necessary to bring power to MEA members’ homes and businesses. In 2023, the base rate did not increase three of the four quarters, and the MEA Board of Directors approved a 2.5% increase in this first quarter to account for inflationary costs and other operational increases the Association continues to encounter.
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.