Homer Electric Association (HEA) members will likely see a rate decrease effective October 1, 2019.
HEA has submitted a filing with the Regulatory Commission of Alaska (RCA) that requests a decrease in the Cost of Power Adjustment (COPA) from $0.07157 per kilowatt-hour to $0.06195 kilowatt-hour.
COPA reflects the cost of the fuel purchased by HEA to generate electricity and purchased power. It is adjusted on a quarterly basis.
If approved, the new rate will mean an approximate decrease of $5.29 per month for the average HEA residential member using 550-kilowatt hours a month. The main driver of the decrease is the refund from HEA’s gas supplier Furie for past purchases going back to April 2018.
Pending approval from the RCA, the rate change will be effective October 1, 2019.