Poudre Valley REA to reduce rates for utility members
WINDSOR — Poudre Valley REA will lower rates on electricity sold to all members, according to a decision by the utility’s board last week.
The average decrease will be 1.4%, which equals an annual cost savings of $1.8 million for REA members. Large commercial members will see reductions of up to 1.9%, with residential reductions lower. In general, residential and commercial utility customers will pay less under the rate reduction than they did in 2017, PVREA said in its announcement.
The decrease will be effective on June bills and will show up as a power cost adjustment line item, the utility said in a press release.
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“Thanks to our continued focus on affordability, combined with a rate reduction from our cooperative wholesale power provider, Tri-State, we are able to implement this meaningful rate reduction,” Jeff Wadsworth, PVREA president and CEO, said in a written statement.
Tri-State Generation & Transmission Association announced April 30 that it would lower wholesale rates 2% this year and another 2% in 2022. Tri-State supplies power to PVREA and United Power, with its headquarters in Brighton.
Wadsworth said that PVREA already has the lowest average residential rate among electric cooperatives in Colorado. “This decrease solidifies our commitment to affordability, which is even more important during a time when prices are rising all around us,” he said.
“We know every dollar counts and hope this will be an economic stimulus to the communities we serve,” Wadsworth said.
He said the utility will continue to move toward use of renewable-energy sources while maintaining reliability and affordability. “And through board direction, we see a future of stable rates along with the potential for another rate decrease as we plan out 2022 and beyond,” Wadsworth said.
PVREA is a member-owned, not-for-profit electric cooperative serving more than 48,000 homes and businesses in Boulder, Larimer, and Weld counties in Northern Colorado.
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WINDSOR — Poudre Valley REA will lower rates on electricity sold to all members, according to a decision by the utility’s board last week.
The average decrease will be 1.4%, which equals an annual cost savings of $1.8 million for REA members. Large commercial members will see reductions of up to 1.9%, with residential reductions lower. In general, residential and commercial utility customers will pay less under the rate reduction than they did in 2017, PVREA said in its announcement.
The decrease will be effective on June bills and will show up as a power cost adjustment line item, the utility said…
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