Reduced rate projected to save $2.5 million in November
Habersham EMC is cutting its rates for the remainder of this year. The local cooperative announced the move in a news release late Friday.
The HEMC board of directors approved cutting the rates by reducing the Wholesale Power Cost Adjustment (WPCA) factor. The WPCA reflects fluctuations in the price of power the cooperative buys. Adjusting it will lower the electricity rate for almost every HEMC member, according to the cooperative.
In November, HEMC members will save $28.00 for every 1,000 kWh used, resulting in approximately $2.5 million in total savings.
Next month’s reduction will be announced the first week of December .
Updated billing
In announcing its rate decrease, HEMC also unveiled changes to its electric bills that the cooperative says should improve transparency. Electric bills have been changed to show the three components that were previously presented in the total electricity charge:
- Energy– charge for the kilowatt hour usage based upon the rate. This is the first line of the bill.
- Wholesale Power Cost Adjustment– reflects the fluctuations in HEMC’s cost of wholesale power purchased.
- Facilities Charge– also referred to as the Service Charge in the rate schedules. This recovers expenses incurred by HEMC such as equipment, line maintenance, metering and billing services.
Habersham Electric Membership Corporation is an electric distribution cooperative headquartered in Clarkesville. It serves approximately 25,000 members with 33,000 meters in six northeast Georgia counties including Habersham, Hall, Lumpkin, Rabun, Stephens and White counties.
