June 17, 2019 – Homer Electric Association, Inc. (HEA) members will likely see a decrease in their monthly bills beginning July 1, 2019, if the filing with the Regulatory Commission of Alaska (RCA) is approved.
HEA proposes a decrease to the Cost of Power Adjustment (COPA) rate from $0.08153 per kilowatt hour (kWh) to $0.07157 per kWh. The COPA is adjusted on a quarterly basis and primarily reflects the cost of natural gas used to generate power for HEA members as well as purchased power. HEA anticipates using more lower cost hydroelectric power from the state’s Bradley Lake hydroelectric project over the coming quarter due to an abnormally high reservoir level at this time of year.
The average residential member who uses 550 kWh/month will see a 12.2% or $5.48 decrease in their monthly bill. Pending approval from the RCA, the COPA decrease will be effective for all billings beginning July 1, 2019.