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Electric Rates

You might not give a second thought to what’s behind your light switch when you flip it on. Or how the electricity that brews your morning coffee gets to your home. Unless the power goes out, we get it. For most of us, reliable, affordable electricity is a given. Why bother thinking about how electricity is generated and delivered to your home when you’re busy juggling work and your kids’ soccer, school, and dance lessons? It’s LREC’s job to do that for you. And it’s also our job to ensure that the electricity keeping your shower hot, and your drinks cold, is reliable and affordable.

The cost of wholesale electricity LREC purchases and delivers to your home is the biggest impact on your monthly electric bill. It is roughly 60% of every single dollar you pay LREC. If our cost of wholesale power goes up, which our power provider told us, primarily due to the increased prices of natural gas to generate electricity, your rates aren’t too far behind. Unfortunately, wholesale power cost is the most expensive cost for LREC to address.

Secondly, the cost of living has increased, and so does LREC’s overall operations cost of doing business. These increases, like vehicles, fuel, poles, and wire, impact your bill also. These costs only make up a smaller percentage of LREC’s overall expenses; these costs are increasing.

With the increased cost of operations/maintenance and wholesale power, LREC management and the board hired a third-party, Guernsey Engineering, to conduct a rate study.

As a result of the rate study, LREC’s board and management understand that with the increases in power cost in 2023 and the increasing cost of daily operations. A rate increase is needed to keep your co-op financially stable and continue to provide reliable service.

The rate change will go into effect in January 2023. The notable rate change is the residential service availability fee on your bill will change from $32.50 to the new rate of $42.50. You will also notice the new rate for kWh usage will come down slightly as all kWh will cost $0.0792.

 

Residential

Service Availability | $42.50

Energy Charge | $0.0792/kWh

PCA | $0.00000/kWh

General Service (Single-Phase)

Service Availability (under 200 Amps) | $42.50

Service Availability (over 200 Amps) | $52.50

Energy Charge | $0.0792/kWh

PCA | $0.0000/kWh

General Service (Three-Phase)

Service Availability | $72.50

Energy Charge | $0.0792/kWh

PCA | $0.0000/kWh

Large General Service

Service Availability | $150.00

Demand Charge | $11.25/kW

Energy Charge | $0.05130/kWh

PCA | $0.0000/kWh

Large General Service (time-of-use)

Service Availability | $150.00

Base Demand | $3.55/kW

On Peak Demand | $12.50kW

Energy Charge | $0.04620/kWh

PCA | $0.0000/kWh

Outdoor Lighting

Security Light 7,000 Lumens | $10.60

Security Light 20,000 Lumens | $31.35

Decorative Lights  | $25.60 

Fees and Charges

Returned Check | $40.00

Re-connect Fee | $100.00

After-Hours Reconnect Fee | $500.00

Meter Tampering Fee | $250.00

48-Hour Notice Fee | $5.00

Break Box Fee | $50.00

Meter Test Fee | $35.00

Temporary Service Connect Fee | $75.00

False Outage Report | $100.00

Staking / Engineering Consulting Fee | $75.00

Security Light Relocation Fee | $100.00

Credit Check Fee | $5.00

 

The average member on our system used roughly 1,180 kWh a month. Below is a chart showing the difference between the current and new rates and the inflation rates on everyday items LREC uses to operate your co-op. 

 

 Download LREC’s rate schedule sheets below.