Wholesale Power Cost Relief Continues into 2024

Posted on Jan 14 2024 in Bartholomew County REMC
Courtney Metzger
Courtney Metzger

It’s no secret that the current economic climate has made things challenging for many of our members. Despite inflation slowing some, the prices of most goods and services remain high, making it increasingly difficult to make ends meet. We recognize that rising electricity costs can also be a significant burden for households, and we’re committed to doing everything in our power to minimize that impact by carefully managing our expenses, resources, and investments.

Electricity is an essential part of our daily lives, and as your electric cooperative, we are always on the lookout for ways to manage the costs associated with distributing it. Unfortunately, our wholesale power costs have increased by 18% over the past two years. This increase is due to several factors, including fuel prices, inflation, and supply chain issues, that we expect to continue for the foreseeable future. Members see these cost pressures reflected on their bill, listed as the Wholesale Tracker, which is a pass-through to cover the fluctuating cost of power we purchase on your behalf.

Throughout 2023, BCREMC provided relief with a bill credit by using margins and special capital credit retirements to partially offset the increase in the Wholesale Tracker. The board is committed to easing the burden of rising electricity prices for our members by continuing the relief refund in 2024. The credit members will receive is directly proportional to their kWh use and is listed as “BCREMC Wholesale Power Cost Relief” on bills.

While we cannot control all the variables that determine power costs, you can reduce your energy use and make more informed decisions about energy consumption that contributes to your bill.

We’re proud to be part of a community that supports one another. That’s why we want to assure our members that we’re here to help. If you’re experiencing financial hardship and struggling to pay your electricity bill, please don’t hesitate to contact us. We offer a variety of programs and services that may be able to provide assistance and support.