What are some key highlights of the rate case?
- The Residential basic charge will increase $1.50 from $25.50 to $27. The total rate will increase from $0.086428 to $0.094708.
- The General Service basic charge will increase $5 per month, to $40 for single phase and to $45 for three-phase. The total rate will increase from $0.085053 to $0.091608.
- The cooperative is introducing cost-saving Time of Use rates and is filing to reintegrate much of the Coal Bed Methane (CBM) classes into General Service and Large Power classes.
How much will this change members’ electric bills per month?
Residential rates will increase an average of 8.87%. General Service rates will increase an average of 8.86%. An online rate calculator is available at www.precorp.coop.
When will the rate change take effect?
The Wyoming Public Service Commission will perform its regulatory review in 2020. PRECorp requests implementation of the rate to become effective with usage on or after September 1, 2020.
Why is this rate case and adjustment necessary?
PRECorp last filed for a rate adjustment in 2016. Since that time electric sales have continued to decline, particularly in the Coal Bed Methane and Coal sectors. Despite a continued focus on improving operating efficiencies and decreasing costs, the loss in sales has resulted in business results below those necessary to operate the business and meet PRECorp’s financial lender requirements. The rate adjustment will help PRECorp return to a positive operating position and continue to provide members the safest and most reliable service possible. It also introduces Time-of-Use rates, which will provide members greater flexibility in controlling their energy costs.
Will the rate change provide any benefits to consumer-members?
PRECorp will be able to continue to provide high-quality and dependable service to our members while protecting the financial stability of the organization. If we don’t adjust rates, we would have to cut core business areas which would have a negative impact on the quality of service we provide. Sacrificing maintenance may cause an increased number and duration of power outages or power quality problems.
Are there any programs and services to assist in paying bills or lowering usage?
PRECorp offers programs such as Budget Billing, electric heat rates, a zero-interest loan program for home energy efficiency improvements, and energy audits, and will soon offer Time-of-Use rates that will provide members greater control over their energy costs. PRECorp can provide information about low-income assistance through LIEAP and other agencies.
What is PRECorp doing to keep its costs in check?
Safety and reliability are our first priorities, which indirectly lower costs. PRECorp employees also look for opportunities to improve efficiency and reduce costs. Since 2016 there have been more than $5 million in cost savings or revenue enhancements to the bottom line. Through retirements and attrition, the total number of PRECorp employees is at a 15-year low of 120.
Is PRECorp doing anything to increase sales?
PRECorp operates in a certificated service territory, which means it is a fixed territory approved by the Wyoming Public Service Commission. However, PRECorp is supportive and involved in numerous community development activities and with groups focused on promoting growth here in northeast Wyoming as well as throughout the state.
As part of our cooperative outreach effort, PRECorp led the charge in the creation of Members 1st Power Cooperative. This is a three-member Generation & Transmission (G&T) cooperative that includes Fergus Electric Cooperative and Tongue River Electric Cooperative, both of Montana. The creation of the G&T helps manage our wholesale power supply costs in two primary ways: first, through the diversification of our loads, which reduces the wholesale peak power price from our wholesale electric service provider, Basin Electric Cooperative; and second, by increasing our collective voices through guaranteeing a long-term seat on the Basin board.
Additional points to remember:
- PRECorp is focused on providing reliable electricity that is competitively priced.
- When necessary, PRECorp examines and updates its cost to serve power to all rate classes.
- We are always looking for new technologies, efficiencies, and opportunities that may increase sales to help us keep our rates stable.
How can I find out more information?
The PRECorp Member Service Representatives can also assist with questions, contact them at 1-800-442-3630. Members may also email questions directly to firstname.lastname@example.org.