|Paulding-Putnam Electric board approves rate revision|
|Friday, February 14, 2014 3:33 PM|
PAULDING – At their regular meeting on Feb. 13, the Paulding-Putnam Electric Cooperative Board of Trustees approved several rate revisions for their members.
“The board approved a revision to the residential rates that will increase rates approximately 4 percent for all residential members,” said George Carter, Paulding-Putnam CEO/general manager. “The average residential member will see their electric bill increase about $6 per month, which will include both a change to the monthly service charge and the distribution energy charge.”
Carter noted that the generation and transmission portion of the billing will not be affected.
John Saxton, board president, called the increase necessary because of two main factors.
“First, the cooperative is committed to improving reliability and service to members. Our investment in the poles, wires, transformers and other infrastructure must continue to meet member needs,” said Saxon. “Second, our power costs continue to increase. In 2013 alone, we saw an additional 2 percent increase from our suppliers.”
In the past five years, the cooperative has invested more than $26 million into the infrastructure needed to serve the members. Carter stated that plans are being made for the next construction cycle and he expects an additional $20 million to be invested over the next four years.
The new rates will become effective with the billing statements members will receive in March. The increase will not only affect residential rates, but will also impact the other rates as well. Members are encouraged to visit the cooperative’s website at www.ppec.coop for more information on the revision.
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