For the first time since 2015, residential electric base rates will be modified, effective with electric billings after March 15, 2023 (some industrial accounts were adjusted January 1, 2023).
Due to increased costs, particularly on the cooperative’s cost of purchased power, the base rates for energy and the monthly facility charge will be increased. In addition, a small distribution demand charge will be implemented to address increased costs to maintain and upgrade the electrical system. For demand rates, the demand charge will increase.
For residential accounts, the last increase to the monthly the facility charge was in 2018, and again, the most recent change to the base rate of energy was in 2015. For residential accounts, the overall increase is 6.3%. For all rate classes, the impact is 7.7%.
Many factors are increasing costs: clean energy goals, supply chain issues, world events, weather and inflation, are some contributing factors. In 2022, Rock Energy experienced a 37% increase in power costs. With power cost representing nearly 70% of all expenses, the impact was substantial.
The cooperative remains cost competitive, while maintaining and upgrading the system to accommodate the needs of our current and future members.
Please contact the office if you have any questions.