Bills are Going up in January – 2019 budget includes a 5.2% revenue increase
Pending board approval at the December 20th board meeting, OPALCO members will see a rate increase when they open their bills in January. The bills will be on average, $9.50 higher.
OPALCO is raising rates as a necessary part of providing power to our 20-island archipelago. This increase is driven by the loan expense (capitalization) for the submarine cable replacement (George), inflation and power cost increases. The budget also includes two new Apprentice Lineworker positions to prepare for retirements on the horizon.
The 2019 budget includes a 5.2% revenue increase, which will be applied equally between the service access (facilities) charge and the energy (kWh) usage portion of member bills for a total of around $9.50 more per month (based on the average residential monthly household usage). Learn more about what costs are included in the service access charge and how trade-offs are balanced at www.opalco.com/rates.
If paying your power bill is a financial strain, OPALCO offers a monthly credit through the Energy Assist program.
P.S. CAPITAL CREDIT checks go out in December. If you were an OPALCO member in 1993 or 1994, watch your mailbox for your co-op dividend! Learn more.