News: CHELCO reduces bills again in December
CHELCO will reduce members’ bills again this month by about $300,000, bringing the total saving to members in November and December to about $600,000.
CHELCO's margins for 2014 have been considerably more than budgeted. The reasons are threefold. Members’ participation in the Beat the Peak program to reduce demand for power, combined with CHELCO’s aggressive efforts to manage loads, resulted in substantial saving on wholesale power costs. CHELCO’s enhanced efforts to control costs contributed significantly. And, electric sales were above budget.
Savings will be reflected in the distribution cost adjustment (DCA). The change will be the same as in November. Without the reduction, the DCA would be a charge of $.004 (four mills) per kilowatt-hour (kWh). With the reduction, the DCA has been changed to a credit of $.002 (two mills) per kWh. This is a savings to the member of $.006 (six mills) per kWh. On a power bill of 1,000 kWh, the change in the DCA would be a $6 savings.