OCEC Rate increase

[pasayten]

Yes... Monthly electric bills will be going up... a lot of pressure in this economy on fixed income seniors and low income families.

[PAL]

POWER SUPPLY COSTS
TO INCREASE FOR 2024
OCEC has received the final wholesale power rates from our power supplier, PNGC Power and Bonneville Power Administration (BPA), for the coming two-year rate period. OCEC will be experiencing a nearly 10% increase in wholesale power costs as a result of a drastic change in the cost of wholesale power BPA is charging for energy needed above our federal power allocation.
What is causing the change? For all of our energy needs above our federal allocation of cost-based hydropower, BPA charges a market-based rate and that wholesale power market cost has roughly tripled in the last 18-months. With the growth OCEC has been experiencing our system will purchase about 15% of our total power needs at this higher market rate.
The cost of purchased wholesale power is roughly 50% of the total cost of OCEC’s service to our members with the other 50% being made up of operations, materials, labor costs, debt service, and other expenses necessary to deliver reliable power to our membership. Upward pressure on expenses continues and in combination with the largest increase in the cost of wholesale power may result in upward pressure on rates to ensure the cooperative is financially strong.
The OCEC Board will be reviewing the 2024 budget in the coming months and will communicate any planned changes to rates as soon as decisions are made.

And Prop 1 wants to create a taxing district with this on the way? Don't think so.