Photo: Apprentice Lineman Jared Davis, Journeyman Lineman Rodney Gibson and Construction Foreman Panky Hill remind everyone to check out this month’s Today in Mississippi member publication mailed this week.
Beginning in January 2019, Singing River Electric billing statements reflected a power cost adjustment decrease of 0.1 cent/kilowatt-hour (kWh) due in large part to natural gas prices continuing to be slightly lower than expected. This reduced all member bills by $1.00 for every 1,000 kWh of energy used.
The power cost adjustment is driven by the cost of generating and purchasing electricity. Cooperative Energy, our wholesale power provider, generates and purchases electricity using a diversified mix of fuel sources including natural gas, coal, nuclear, hydroelectric and solar. This allows Cooperative Energy to keep the cost of power as low as possible.
In addition, if you were a member during the months of November or December 2018, you will be receiving a onetime bill credit based on your electricity use during this two-month period. The bill credit will be applied to February bills.
This $1.2 million member credit was recently returned from Cooperative Energy, as a result of margins occurring during this time frame. Cooperative Energy worked with their power reliability coordinator, the Midcontinent Independent System Operator (MISO), to provide the required energy for its members and performed successfully in the market. The result was higher than expected margins that have now been returned to Singing River Electric and are being passed directly to our membership. For example, if a member used 2,000 kWh over the two-month period, the February bill credit would be $11.50. Similarly, if a member used 5,000 kWh over the two-month period, the February bill credit would be $28.75.
Singing River Electric’s goal is to meet our members’ energy needs while providing electric service at the lowest possible cost and enhancing the lives of the members and communities we serve. We strive to meet and exceed these goals daily.
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Additional Resources:
Singing River Electric Residential Rate Calculator
February 2019 Issue of Today in Mississippi member publication