by Zac Perkins, CEO
Electricity costs are rising across the country. The Energy Information Administration (EIA) Summer 2022 Electricity Industry Outlook forecasts a 4% increase in the national average electricity price compared to summer 2021.
Tri-County Electric Cooperative (TCEC) is seeing increases in wholesale power costs that affect all of us. We are a not-for-profit electric utility. Therefore, we must recover the power cost from the members who use it. Fuel costs for power generation are increasing due to the price of natural gas, so the power cost adjustment (PCA) line on your electric bill will increase.
The PCA reflects the increase or decrease in TCEC’s cost of power purchased from our power provider, Golden Spread Electric Cooperative. This is a pass-through, meaning TCEC makes no margin on the PCA.
Summer temperatures are also causing higher residential electric use. We will continue to post ways to reduce your energy use. Members can also find free resources on our Energy Efficiency Resources webpage. For example, cooling below 75 degrees in the summer costs extra. Adjusting your thermostat a few degrees can lead to energy savings.
For an explanation of line items and costs on your electric bill, visit our Understand Your Bill page. If you have questions about your electric bill, please call (580) 652-2418 during our office hours, Monday through Friday from 8 a.m. to 5 p.m. Thank you.