GVEA Electric Bills to Dip Slightly
Electric consumers can anticipate a slight decrease in their bills as they ring in the New Year. The average household that consumes 660 kWh will see its monthly bill drop by about $4.
As of December 1, Golden Valley Electric Association’s Fuel and Purchased Power Charge will decrease almost nine percent, from 10.5 cents to 9.6 cents per kilowatt-hour. Since January 2012, this charge has dropped 24 percent.
The decrease in the Fuel and Purchased Power Charge will more than offset a slight increase of 0.3 cents to the Utility Charge effective January 1, 2014.
Utility officials are pleasantly surprised to be offering a price reduction midwinter, a time when strong demand typically means higher costs.
“We are seeing continued positive effects of the natural gas contract we negotiated with the Anchorage utilities,” said Cory Borgeson, GVEA president and CEO. The worldwide slide in oil prices also contributed to the decline in fuel costs.
GVEA is working to stabilize rates that have fluctuated wildly in the past seven years, driven by the volatile cost of oil.