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MEA Members See Another Rate Decrease in the New Year

Jan 7, 2021 | Energy, News

MEA members will begin the first quarter of the new year with an overall rate decrease due to some noteworthy changes at their local electric co-op.

In an ongoing effort to keep rates stabilized, MEA’s Board of Directors voted for no change in base rates, which were the lowest among the Railbelt utilities in 2020. Additionally, the Cost of Power Adjustment (COPA) rate decreased nearly 6.5 percent in the first quarter of 2021. This larger decrease in the COPA rate came from an increase in economy energy sales to other utilities and MEA’s increased share in economic power sources as a result of the ML&P sale including more access to cheaper power produced from the Eklutna Hydro source.

A typical MEA member, consuming about 641 kWh per month of electricity, will see their overall bill decrease by about $3.08 or 2.2 percent. The rate changes, effective January 1, 2021, are subject to approval by the Regulatory Commission of Alaska (RCA).

MEA may file limited increases or decreases in base rates on a quarterly basis, provided the adjustments stay within certain financial parameters established by the RCA. The base rate includes the costs of infrastructure and bringing power to our members’ homes and businesses. The COPA rate fluctuates quarterly as fuel and purchased power costs change based on global and Alaska-specific factors.

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