MEA Members to See Overall Rate Decrease
Matanuska Electric Association’s typical member (using approximately 696 kWh/month of electricity) can expect to see a total decrease of about 1.67 percent (or $2.46/month) to their overall bill as a result of first quarter adjustments to the base and cost of power adjustment (COPA) rates, effective January 1, 2019.
The MEA Board of Directors voted on December 10, 2018 to authorize an increase in base rates of 1.86%, which was recently approved by the Regulatory Commission of Alaska (RCA). In addition to the base rate adjustment, MEA has requested a reduction of 7.41% to the quarterly COPA rate, pending RCA approval.
“MEA is focused on several improvements to reduce costs for our members,” states spokesperson Julie Estey. “While the rate decrease is modest, we know every little bit helps. We are encouraged to see our efforts making a difference for our members, especially during the coldest and darkest months of the year.”
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 COPA rate fluctuates quarterly based on current fuel and purchased power costs.
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Distinguishing Differences in Financial Institutions
There are thousands of financial institutions in Alaska, providing everything from checking and savings accounts to loans and investment solutions. Banks and credit unions are among the most prominent financial services companies serving Alaskans.