Wholesale Power Cost Relief Continues into 2024

Posted on Dec 18 2023 in Bartholomew County REMC

Throughout 2023, BCREMC has provided a monthly Wholesale Power Cost Relief adjustment for members. During this time of inflation, BCREMC is trying its best to alleviate the impact of increasing wholesale power costs that are passed onto members through the Wholesale Tracker. The relief credit is for all accounts that currently receive electricity from BCREMC. The refund amount for December will be in direct proportion to the kWh that you use and will be listed as “BCREMC Wholesale Power Cost Relief” on your bill.

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 passthrough 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.

Since January, we have issued relief monthly, as a credit on your bill, to offset the increase in the Wholesale Tracker. The board is proud to report that BCREMC is in good financial standing to give back to our members when it is needed most.

Reflected on mid-December bills and those sent at the first of January, Bartholomew County REMC members will see a Wholesale Power Cost Relief credit of $0.008363 per kWh. Members that received electricity from BCREMC during the years 1994, 1995, 1997 and 1998 will also see a capital credit refund on these bills, in addition to the relief.

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 this relief during this time of inflation. Please contact our office if you have any questions regarding your electric bill.