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When OPALCO members open their bills in January, they 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.
“The Board strives to keep power bills affordable,” says board president Vince Dauciunas. “We held rate workshops throughout 2018 to explore options for rate setting and completed a new Cost of Service analysis to make sure each member is paying their fair share. The revenue increase was necessary to balance the budget in a climate of rising costs.” Continue Reading