Homer Electric Association announced Monday it requested a rate decrease with the Regulatory Commission of Alaska.
According to a press release, the utility is asking to lower the cost of power adjustment from $0.04997 per kilowatt hour to $0.03603 per kilowatt hour. COPA reflects the cost of the fuel used to generate electricity purchased by HEA from Chugach Electric Association and is adjusted on a quarterly basis, the utility wrote in the release.
The request is pending the state’s decision. If approved the new rate will be effective on July 1.
The COPA revision will lower the blended rate for HEA customers from $0.17756 to $0.16362 per kilowatt hour, meaning a monthly savings of $8.78 for the average HEA member using 630 kilowatt hours per month.