Electric Rate Increase Coming
Lower Valley Energy’s main electricity provider, Bonneville Power Administration (BPA), announced this summer in its Final Record of Decision it will be raising rates. The cost of the power Lower Valley Energy receives is essentially increasing by 6%. BPA examines its rate structure to the over 140 utilities it serves in the region.
In order to maintain Lower Valley Energy’s fiscal health, and in re-examining its costs of service and operational efficiencies, the cooperative cannot absorb the entire upward pressure of wholesale rates.
Effective October 6, 2017, it is necessary to increase electric rates by 2.63%. Lower Valley Energy continues to maintain some of the lowest electric rates in the country.
BPA derives the majority of its power from the federal dam system in the Columbia River basin in the Pacific Northwest. There are many moving parts to BPA’s entire system and the cost increase is based largely on lower-than-expected demand for power, a declining forecast of surplus power sales revenues due to lower market prices, and increased wildlife mitigation programs.
You are much more than a customer of Lower Valley Energy. As a cooperative utility, you are an owner and member of Lower Valley Energy. Lower Valley Energy realizes the impact any rate adjustment can have on you. As your energy provider, Lower Valley Energy wants you to know it is doing everything possible to keep retail rates as low as possible. Please let Lower Valley Energy know if you have any questions about the rate increase by calling 733-2446 (Jackson) or 885-3175 (Afton). Lower Valley Energy appreciates the opportunity to be your utility company and to serve you.