February Wholesale Power Relief

Posted on Feb 18 2024 in Bartholomew County REMC
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Last month, BCREMC announced that the board of directors voted to extend the Wholesale Power Cost Relief refund for members. In these times of inflation, BCREMC is dedicated to reducing the impact of rising wholesale power costs for its members. As a result, we are providing a special refund for all current members receiving electricity from BCREMC. The refund amount will be determined based on the kWh you use and will be listed as “BCREMC Wholesale Power Cost Relief” on your bill.

The power we purchase from our wholesale provider, Hoosier Energy, is subject to price fluctuations. This is why you see the Wholesale Tracker on your bill, which is calculated monthly and adjusted every quarter to reflect the changing costs of wholesale power. The tracker is simply a pass-through from Hoosier Energy and is based on your kWh consumption. Unfortunately, due to the rising electricity costs resulting from fuel prices, inflation, and supply chain issues, we anticipate that wholesale power prices will remain inflated throughout 2024.

To offset the increase in the Wholesale Tracker, BCREMC will be issuing this margin refund throughout 2024. Our strong financial position enables us to return current margins to our members now, when it is needed most.

Reflected on mid-February bills and those sent on the first of March, Bartholomew County REMC members will see a wholesale power cost relief credit of $0.007709 per kWh, which makes the tracker charge $0.009491 per kWh.

Our employees and board members at BCREMC are dedicated to keeping local expenses at a minimum while ensuring that we maintain a high level of service that meets your expectations. We appreciate your loyalty and are committed to providing support during this period of inflation. Please contact our office if you have any questions about your electric bill. Thank you for being a valued member.