The average East Central Energy member will see about a 6% increase on their electric bill in 2024.
ECE President Justin Jahnz said on Tuesday's KBEK morning show that the cooperative will raise its residential rates for the first time since 2018.
Jahnz named rising costs and inflation as factors for the rate adjustment.
"Like every industry, we've seen inflation," he explained. "And there's a larger discussion around why is that happening, and what is happening, but the reality is, we're not immune to it."
ECE’s fixed charge is being raised from $30.25 to $45 a month.
Jahnz said that increase is balanced out by a reduction in energy charge. In 2023, the energy charge was 14.38 cents per kilowatt hour in the summer, and 12.49 cents in the remaining nine months.
That rate will now be 12 cents for the entire year in 2024.
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