March 19, 2018 – Homer Electric Association, Inc. (HEA) members will see a decrease in their monthly bills beginning April 1, 2018.
HEA proposes a decrease to the Cost of Power Adjustment (COPA) rate from $0.07077per kilowatt hour (kWh) to $0.06701 kWh, which is a drop of 5.32%. The COPA is adjusted on a quarterly basis and primarily reflects the cost of natural gas used to generate power for HEA members.
The average residential member who uses 550 kWh/month will see a $2.06 reduction in their bill. The primary driver for this decrease has been the ability of HEA to make purchases of spot market gas at lower prices than its base contract. These opportunities are not always available, so when they present themselves, HEA acts on the opportunity to lower costs on behalf of the membership.
The COPA decrease will be effective for all billings beginning April 1, 2018.