REA Energy members have been notified that electricity rates will increase about 12 percent starting on January 1st. For the average homeowner using 950 kilowatt hours per month, the electric bill will go from $37.50 per month to $42. Small commercial businesses will go from $44.50 to $50 per month.
REA’s generation and transmission costs have risen by 40.29 percent since 2019, primarily through increases on the open market, while REA rates have increased by 33.24 percent.
REA says its members pay some of the lowest electricity rates in the state. The increases also apply to the cooperative’s electric heat, dual fuel and Electric Thermal Storage, and outdoor light customers.
President and CEO Chad Carrick gives a comprehensive explanation of the need for the increase in an online video. Search “Chat with Chad” on YouTube.
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