June 14, 2018 – Homer Electric Association, Inc. (HEA) members will see an increase in their monthly bills beginning July 1, 2018.
HEA proposes an increase to the Cost of Power Adjustment (COPA) rate from $0.06701 per kilowatt hour (kWh) to $0.07270 kWh, which is an increase of 8.49%. 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 $3.13 increase in their bill. The primary driver of the increase is HEA’s greater reliance on its higher priced baseload gas contract going forward to fuel generation, compared to lower priced gas spot market opportunities that HEA has been able to act upon year to date.
The COPA decrease will be effective for all billings beginning July 1, 2018.