Notice of Proposed Rate Changes
Posted on December 28th, 2020
First Electric Cooperative has submitted proposed rate changes to the Arkansas Public Service Commission. If approved, the new rates will be reflected on the May 2021 bills. The rate changes will more closely align rates with incurred costs.
For residential accounts, the Service Availability Charge will change from $20.00 to $25.00, an increase of $5.00. The Service Availability Charge is a fixed charge designed to recover the basic monthly costs of providing poles, wires, transformers, meters, billing, etc. The Minimum Bill will change from $26.00 to $28.00. If you use more than 34 kWh per month, this change will not increase your bill.
Included in the proposed rates, the price per kWh will decrease $.003306 in the summer and for the first 500 kWh per month in the winter. For example, residential summer bills using 1,000 kWh, under the existing rate would buy $113.38 versus $115.07 using the proposed rate.
For irrigation accounts, there will be a $10.00 per month increase in the Service Availability Charge. A Summer Demand charge of $7.50 per kW has been added and the cost per kWh has been reduced by $.03629 for the first 342 kWh/kw. In addition, the Minimum Bill for Summer per kW will increase $3.12. The five-hour load control summer energy credit rate option has decreased to $.06 per kWh.
SCHEDULE OF RATE ADJUSTMENTS
Public Service Commission Reviewing Rate Adjustment
Notice is hereby given that the First Electric Cooperative Board of Directors has approved in the above rate schedule and fees of this Cooperative as set forth.
The proposed rate increase to the Traffic Signal class is 9.49% or $757 change in rates, Agricultural Water Pumping (Irrigation) is 7% or $566,008 change in rates, Municipal Street Lighting is 5.02% or $19,441 change in rates, Residential Single-Phase is 1.29% or $1,707,276 change in rates and Commercial Single-Phase is 1.12% or $71,973 change in rates. Overall, the proposed changes in rates and fees increase the Cooperative’s total annual revenue by $2,365,964.
The effect of the rate change on individual consumers will vary depending on the class of service and the amount of electricity used.
The proposed rates and fees will become effective for all bills issued on or after May 1, 2021, unless, on or before such effective date, petitions from ten percent (10%) of the membership have been received by the Arkansas Public Service Commission, 1000 Center Street, Little Rock, Arkansas 72201, the mailing address is: P.O. Box 400, Little Rock, Arkansas 72203-0400.