Owen Electric Rate Redesign Approval
Owen Electric Cooperative received Kentucky Public Service Commission approval on a revenue-neutral rate redesign that will allow the co-op torate options will also give members more options when it comes to managing their monthly electric usage.
Under the newly approved rates, Owen Electric will be permitted to increase its residential class customer charge in three steps over a 36-month period. The average residential member will not see any increase or decrease in their monthly electric bill.
With the cost of electricity likely to increase in the future, Owen‘s interests lie with finding new ways to save its members money while exploring new technologies to produce and distribute electricity—including more individualized rate structures tailored for different types of household electricity usage.
In addition to the adjustment of the customer charge, come optional rate offerings, including what is called an “inclining block” rate and a rate based on time of day usage. The inclining block rate is specifically designed for customers who consistently use 500 kWh or less per month. The rate schedule contains three levels of energy usage, incentivizing members who are low-energy or more efficient energy users.
The new time of day rates are designed to provide farm and home customers an opportunity to lower their electric bills if they are willing to make changes in their electric consumption patterns according to peak and offpeak usage periods on Owen Electric’s system.
Bills will change slightly, depending on the amount of electricity individual members use, as a larger portion of the total bill is allocated to a fixed charge with a reduction to the charge per kilowatt-hour.
For more information and to see the newly approved rates, visit Owen’s Web site at this address: www.owen
Kentucky Association of
Electric Cooperatives, Inc.
4515 Bishop Lane * Louisville, KY 40218
502-451-2430 * FAX: 502-459-3209