HEA will see a Base Rate Increase January 1, 2024
Homer Electric Association, Inc. (HEA) members will see a base rate increase of 3.5% effective January 1, 2024. On December 8, 2023, the Regulatory Commission of Alaska (RCA) approved HEA’s November 3rd, Simplified Rate Filing (SRF) requesting an increase to the base rate by three and one-half percent (3.5%). This increases the residential energy rate from $0.16077 per kilowatt-hour to $0.16640 per kilowatt-hour. HEA’s last base rate increase took effect in April of 2020.
Significant rates of inflation commencing at the onset of the pandemic have driven prices up nearly nineteen percent (19%). Electric cooperatives in Alaska, as well as the lower 48, continue to see price escalation for materials and services due to continued inflation and supply chain disruptions. This base rate increase will help the cooperative keep pace with the rate of inflation.
General Manager Brad Janorschke stated that “A base rate increase is never welcome but given the significant increases in goods and services I am pleased that HEA’s aggressive cost cutting and operational efficiencies held the base rate significantly below the inflation rate over the past three years.”
For more information on the rate change, visit www.homerelectric.com.
###
For additional information contact: Keriann Baker, Director of Member Relations, kbaker@homerelectric.com or (907) 235-3302.