Minimal Rate Adjustment for 2024

McDonough Power Cooperative’s mission is to provide high quality electric and related services in a safe, reliable, and financially responsible manner. With the increased costs of wholesale power, substantial price increases for essential equipment, increased shipping costs, and supply chain issues, it goes without saying that we need to make a small adjustment to our rates.

To meet our financial obligations, the board of directors approved a minimal rate adjustment that will be effective on your February 2024 billing statement. Those changes are as follows:

• Energy Charge rate increase of $0.003 per kWh (kilowatt-hour) for all rate classes.
• General 3-phase demand rate increase of $0.50 per kW (kilowatt).

For the average McDonough Power residential member, the rate adjustment means paying $3.00 more per month. A typical member using 1,000 kWh in a billing period will see an increase from $178.20 to $181.20. If your usage is more or less than this average, the increase will vary accordingly.

The decision to raise member rates is never easy. This adjustment is necessary to ensure we can maintain the services our members have come to expect and support ongoing enhancements to our infrastructure.

Maintaining dependable service at an affordable price remains the cornerstone of a cooperative’s business. We have a strong internal focus on containing costs and operating efficiently to control costs for our members. As a not-for-profit cooperative, McDonough Power Cooperative collects just enough revenue to cover its costs, with a small margin to operate the business. All margins are returned to the membership in the form of capital credits over the long term.