Price Electric recently completed an interim cost of service study to determine necessary adjustments to rates. The board has approved the increases recommended by the study as follows: 

  • Farm, homes, and small commercial services: the monthly service availability charge will increase from $35/mo to $40/mo for single phase and from $48/mo to $53/mo for three phase 

  • Seasonal residential, schools, halls, and churches – single phase:  the monthly service availability charge will increase from $35/mo to $40/mo 

  • Large power services: the monthly service availability charge will increase from $67/mo to $72/mo 

  • Large power peak alert services: the monthly service availability charge will increase from $111.25/mo to $115/mo; summer peak demand charges will increase from $68.06/kW to $81.09/kW, maximum demand charge will increase from $14/kW to $15/kW, and the energy rate will decrease from $0.0595/kWh to $0.05600/kWh 

  • Temporary single and three phase services: the monthly service availability charge will increase from $35/mo to $40/mo 

The operating margin adjustment (OMA) of 4% which was added in 2018 was removed from member billing in January 2022 in anticipation of updated rates this year. The board voted to drop the OMA effective January 1, 2022. As mentioned in September’s WEC News, PEC will be conducting a full cost of service study in the 2nd quarter next year. 

The new rates will be effective November 1 and will be reflected on the bill you receive in December. 

  • The recent cost of service study showed the cost of providing power is $51 per household.  

  • This amount needs to be collected from the service availability charge plus energy sales. 

  • Increased costs for transformers, lines, poles, and other goods have elevated the cost of line maintenance. 

  • Increased wholesale power costs, interest expenses, and PEC’s requirements to meet lender standards affect rates. 

  • The kWh charge for most rate classes will stay the same, but the service availability charge will be increasing by $5 per month.  

  • Large power peak alert members are the exception and will see increases to service availability and demand charges, and a lower kWh rate. 

The change is effective November 1, 2022, and you will see the new rate on the bill you receive in December. 

PEC is a not-for-profit, member-owned cooperative. This increase simply replaces a portion of the monies that would have been otherwise collected had PEC not discontinued the operating margin adjustment that was implemented in 2018 and removed in January 2022. 

Your bill displays your rate class in the “Rate Schedule/Reference” section. 

Late Fee Changes

Effective January 1, 2023 

Account balances that become delinquent by 30 days or more will be assessed a late charge of three percent (3%) per month or $5.00 per month, whichever is greater. These accounts will also be subject to collection and disconnect procedures.