Wholesale power cost relief continues

Posted on Jun 22 2024 in Bartholomew County REMC

BCREMC is committed to supporting its members during times of fluctuating and often rising wholesale power costs. Understanding the financial pressures these changes can impose on households and businesses alike, BCREMC has taken a proactive step to mitigate the impact on its valued members. The initiative to provide a monthly refund to all current members receiving electricity is a testament to BCREMC’s dedication to its members and its efforts to ensure electricity remains affordable. 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 Hoosier Energy pass-through 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.

Reflected on mid-June bills and those sent the first of July, Bartholomew County REMC members will see the wholesale power tracker set at $0.017169 per kWh with a relief credit of $0.006636 per kWh, which makes the total tracker charge $0.010533 per kWh.

This initiative is not just about financial relief; it reflects BCREMC’s broader commitment to its members. By offering this refund, BCREMC is helping to ensure its members can continue relying on consistent, affordable power without the stress of unpredictable costs. It’s a measure that not only aids in the immediate financial well-being of its members but also reinforces the trust and loyalty between BCREMC and those we serve. Through actions like these, BCREMC continues to lead by example, showing how cooperatives can play a crucial role in addressing the challenges of today’s energy landscape.