For the second year in a row, Pickwick Electric Cooperative has seen a reduction in sales, approximately 4 percent for the fiscal year ending June 2016. Some of this was, no doubt, due to the mild weather in November, December and January. Another factor to be considered is all of the high efficiency products on the market today, from heat pumps to water heaters to LED lighting. These products are also impacting the reduction in sales.
Effective October 1, 2016, we will increase the monthly residential customer charge to $24.40 and reduce the energy charge by 0.088 cents per kilowatt hour. The intent of the customer charge is to cover the costs we incur to build and maintain the system that carries the electricity to your home or place of business. Even if we never move a single kilowatt hour over the wires, we must handle the expenses incurred to deliver that energy. PEC’s overall adjustment will result in a 1.1 percent increase to our retail rate. Adjustments are also being made to the non-residential rate classes.
TVA will implement a change in our wholesale rates on October 1, to result in about a 1.5 percent retail rate increase.
For our members, the two changes combined will result in a 2.6 % increase in PEC’s retail revenue. The new rate schedule will be posted on our website on October 1.
Please know that we are continually looking for ways to reduce our expenses and that we are committed to providing our members with safe, reliable and affordable electricity.