Electric rates likely to rise in October

Electric rates could go up Oct. 1 by just under a penny per kilowatt hour if local utility Homer Electric Association receives approval from the Regulatory Commission of Alaska to raise the Wholesale Power Cost Rate Adjustment.

 

The increase is passed along by power producer Chugach Electric Association.

“Right now our WPCRA is tied to the gas contracts of our wholesale power provider, Chugach Electric,” said HEA representative Joe Gallagher. “When they see an increase, it is passed on to HEA and we have to adjust our WPCRA.”

In its announcement, the utility said that the average residential customer will see an increase of about $6.23 on their monthly bill. That is based on a customer using 630 kilowatt hours of electricity.

The increase is a little under one cent per kilowatt hour, bringing the WPCRA up to $ 0.05297 from $0.04307 last quarter.

In the fourth quarter of 2010, the WPCRA was $0.00715 Gallagher said. It’s increased each quarter since then, mirroring Cook Inlet natural gas prices.

The utility has filed the change with the RCA. The commission is charged with making a decision by Oct. 17.

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