We are putting a little extra jingle in your pockets this December!
CCEC members will see a credit increase in the wholesale power cost adjustment (WPCA) on their December bills. The credit is going from $6.00 per 1,000 kWh of electricity to $25.00 per 1,000 kWh. CCEC's Board of Directors approved the WPCA credit increase at its November board meeting.
The WPCA reflects increases or decreases in the cost of electricity the co-op purchases from its wholesale power supplier for distribution to its members. Our wholesale power costs have been less than expected this year, and we are passing on those savings to you, our members. The lower cost comes, in part, from the co-op’s demand reduction efforts, such as our Connect to Save (connecttosavenc.com) smart thermostat program and time of use program (ccemc.com/TOU).
Our annual budget and rates are based on our best projections of what we expect to pay for electricity in the wholesale market and what our projected kilowatt-hour (kWh) sales are for the year. The WPCA is subject to change during the year to adjust when projected power costs and actual power costs fluctuate. The wholesale power cost adjustment clause has been in effect in all of CCEC’s rates since the 1970s and is a common practice among electric cooperatives nationwide.
In January, the WPCA will be set at $0.