Posted on 02/15/2024 6:56:04 PM PST by george76
Rate increases will go into effect April 1, 2024..
As Holy Cross Energy experiences increased costs due to higher-than-normal inflation and constraints in the supply chain throughout the entire economy, its board of directors approved an increase to its monthly customer rates in January 2024. The increase will be based on individual rate classes and go into effect starting April 1, 2024.
This increase addresses rising costs due to inflation and better aligns Holy Cross Energy rates with how its actual costs are incurred. Small and large members are separated by their monthly demand reading falling below or above 50kW.
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The rise in rates comes as the not-for-profit electric cooperative faces economic challenges that all businesses are experiencing. These economic headwinds have directly translated to higher costs for delivering electricity to members over a modern electric distribution grid that needs additional investment to protect against cyber and physical attacks and to reduce the threat of wildfire ignition.
For the past five years, the cooperative has been able to offset these higher costs for delivery of electricity by sourcing cheaper electricity from new renewable energy projects and wholesale suppliers, saving more than $30 million in power supply costs since adopting its Seventy70Thirty clean energy plan in September 2018.
“Through our shift to cleaner energy resources, HCE has been able to hold our cost increases below the rate of inflation while continuing to invest in the reliability, safety, and security of our electric service,” said Bryan Hannegan, the president and CEO of Holy Cross Energy. “While no one likes to see their electric bill increase, HCE’s electric rates are among the lowest in the State of Colorado even with these rate changes.”
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As part of the newly approved rates, there will be no changes to any demand charges, nor will there be a separate delivery charge imposed on the receipt of electricity. These previously proposed changes remain under discussion with the state and the solar energy industry as Holy Cross Energy attempts to find a mutually beneficial alternative to current net metering policies in Colorado.
“We recognize that this increase comes at a time when many HCE members are also struggling with cost increases for everything else — housing, food, health care, and other utilities,”
Colorado Ping ( Let me know if you wish to be added or removed from the list.)
and.. Denver cuts services in response to the migrant crisis that’s costing the city $180 million..
https://freerepublic.com/focus/f-news/4216308/posts
Holy Zhit!
Don’t know where they are but gas and electric are sure up here. Then so is gasoline, groceries, property tax, etc.
Excel just sent out an email apprising customers that they will be seeking a rate increase on nat. gas for “improved infrastructure for safety and reliability.”
Thankfully I don’t get electricity from Excel.
Adjusted for inflation, natural gas is at an all-time record low. They must be burning pixie dust to make their electricity.
My gas bill is up a lot since Sept. ‘22 when the recent inflation cranked up.
My electricity is up too but not nearly as much. Thankfully I get the elec. from a different company than Excel but both companies are moving to “clean” energy, primarily wind generated. I hear that Excel’s electric rates have soared.
Meaning?
The woke thieves want to close existing, paid for - by the rate payers, power plants that run 24/7 - to make big money.
The thieves blame everything on climate change... then increase their profits.
For our household, Excel propane and electricity bill is almost doubled in the past two years.
If only we had natural resources like coal or gas here.
The left wants us to freeze in the dark.
meaning there’s a disconnect between the wholesale and retail prices ... the NG is very cheap so the high consumer prices might be due to distribution costs.
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