Relief Provided with Special Capital Credit Refund in November

Posted on Nov 18 2023 in Bartholomew County REMC

Throughout 2023, BCREMC has provided a monthly Wholesale Power Cost Relief adjustment for members. BCREMC is providing this relief to offset the increasing wholesale power costs that are passed onto members through the Wholesale Tracker. The relief measures continue in November with a $390,860 special capital credit refund from Hoosier Energy, our wholesale power provider. The average residential member will receive approximately $28 for this billing cycle’s relief. The relief credit is for all accounts that received electricity from BCREMC in 2018. The refund amount for November will be in direct proportion to the electricity used in 2018 and will be listed as “BCREMC Wholesale Power Cost Relief” on your bill either in mid-November or first of December.

Power we buy from our wholesale power provider, Hoosier Energy, to sell to you constantly fluctuates in price. Because of this, the Wholesale Tracker is on your bill monthly and changes quarterly to recoup or credit the fluctuating cost of power we buy on your behalf. The tracker is a pass through from Hoosier Energy and is calculated based on your kWh use. The Wholesale Tracker for the fourth quarter is $0.017327 per kWh. Due to rising costs in electricity caused by fuel (coal and natural gas) prices, inflation and supply chain issues, the trend of elevated wholesale power costs will continue into 2024.

BCREMC is continuously examining ways to operate more efficiently while continuing to provide the highest level of friendly, reliable service you expect and deserve. Thank you for being a valued member. We are grateful to serve you and provide some relief during this time of inflation. Please contact our office if you have any questions regarding your electric bill.