What impacts my bill?
There are several factors that impact the energy bills you pay each month. Because daily costs of living seem to have increased across the board, the factors that affect electricity prices are a timely topic.
Before electricity can be delivered to your home, it must first be generated at a power plant or from a renewable source. The cost of fuel fluctuates, which is why you see the Power Cost Recovery Factor (PCRF) on your monthly bill. This monthly charge covers the cost of fluctuation without us having to continually restructure electricity rates.
2. Service Costs
Your bill includes a monthly base charge, which recovers some of the co-op's ongoing investments in poles, wires, meters, system maintenance and additional costs necessary to provide electric service. Supply chain issues and cost increases for basic equipment such as distribution transformers affect us. The base charges are shared equally across membership.
When temperatures soar or dip, your cooling or heating equipment must run longer and at a maximum capacity, which can greatly increase energy use. Extreme temperatures can also affect electricity market prices. When the need for electricity increases due to extreme heat or cold, the price of power typically rises.
4. Energy Consumption
This is the amount of electricity you use each month to power our home's heating and cooling system, appliances, lighting, electronics and more. The amount of electricity you consume is measured in kilowatt-hours. You have control over how much energy you use, which can ultimately help manage your monthly cost.
As always, we are here to help you, if you have questions about your energy bill or want advice on how to save energy please give us a call.