Coos-Curry Electric, your not-for-profit electric cooperative, is dedicated to powering your life with safe, reliable and cost-based energy. To maintain this commitment in the face of rising external costs, the board of directors has approved a 4.95% average increase, effective March 1.
This adjustment will affect members’ bills differently based on their rate class. Residential members, for example, will only see a change in their base charge, which will increase from $28.38 to $34.65. Their per-kWh rate, however, will stay the same.
This decision follows a comprehensive Cost of Service Analysis conducted by an independent agency. It assessed various cost factors, such as rising operational expenses, planned infrastructure investments and increasing cost of materials, and wholesale power rates. This analysis provides a forecast of electric rates that will collect the revenue needed to meet CCEC’s financial obligations. It is important to note that Beacon Broadband’s financial
performance is independent of CCEC and does not influence this electric rate increase.
“As co-op members, this rate increase hits our pocketbooks, too,” says CCEC Board President Jim Kolen. “CCEC is a not-forprofit electric utility so rate setting is a balance of maintaining financial integrity and providing safe and reliable service without charging more than we need to cover costs. The board sets responsible financial metrics while staff works hard to manage costs and provide the high-quality service we’ve come to expect from CCEC.”
CCEC’s last rate increase was a modest 2.25% nearly four years ago in 2020. Following the pandemic, inflation has sky-rocketed to a 40-year high. Fortunately, our wholesale power costs have remained relatively stable over the last four years, mitigating what could have been a significantly higher rate increase.
“Like our members, CCEC has experienced significant increases in the prices of materials, from underground wire to overhead equipment,” says CCEC Purchasing Agent Tad Bell. “For example, transformer prices have soared 250% in just three years.” Most electric utilities across the Northwest are implementing rate increases in 2024.
“Among consumer-owned utilities I am hearing of rate increases in the range of 3% to 10%,” says CCEC CEO Brent Bischoff. “The largest investor-owned electric utilities in Oregon are implementing rate increases of 13% to 18%.”
Billing Options and Incentives
We understand that rate adjustments can be challenging, and we have some tools to help. If you have any questions, contact our Member Services team. CCEC offers several flexible billing options and energy-efficiency incentives to help you effectively manage your energy costs and budget:
- Online portal: Simplifies account management, including automatic payments and payment reminders.
- Budget billing: Averages annual energy use into equal monthly payments for predictable budgeting.
- Levelized billing: Similar to budget billing but adjusts monthly payments throughout the year to better reflect actual energy use.
- Energy-efficiency incentives: Visit our Rebates Page for ways to reduce energy consumption and lower your bill.
While a rate increase is never easy, this decision reflects CCEC’s commitment to providing reliable, cost-based electricity service while navigating the current economic landscape. We remain focused on the long-term well-being of our members and the sustained growth of the communities we serve. Together, we can continue to power a brighter future.