Power Price Changes
(October 4, 2023) — Residents across the Tennessee Valley will see higher energy charges beginning October 1, 2023. For Meriwether Lewis Electric Cooperative members, the increase is a result of changes made by the Tennessee Valley Authority and the cooperative. Compared to last month, the average MLEC residential member will pay 2.40 percent ($3.77) more.
TVA sites the need to construct new power plants, inflation and higher interest rates as the reason for their 4.5 percent energy charge increase. They have also removed the 2.5 percent Pandemic Relief Credit that has been extended to local power companies since 2020. The TVA monthly Fuel Cost Adjustment is also increasing, and they are changing to their transition month base rate pricing, as is usual for October and November.
In response to TVA’s actions, and the need to cover rising expenses related to delivering safe, reliable power, MLEC is also implementing changes that affect residential and GSA1 classifications. The basic service charge (how fixed costs such as maintaining substations, equipment, materials, right of way, etc. are covered) are increasing $2.50 each, taking the residential charge to $45.50 and the GSA1 charge to $64.50. A three percent increase to the energy charge will also be applied. A complete rate schedule is available at www.mlec.com.
“Although we have worked for some time to lower expenses and find other savings, we have reached the point where a local rate adjustment is necessary,” said MLEC President and CEO Keith Carnahan. “We understand the steps TVA and MLEC are taking will have a very real impact on the families and businesses in our communities. We remain committed to acting in the best interest of our members and delivering safe, reliable, affordable energy to meet their energy needs today and tomorrow.”
To help homeowners better control energy costs, MLEC offers rebates and free resources that can ultimately mean less energy consumed. Contact MLEC or check the “Ways To Save” section on www.mlec.com. Rebates for insulation, heat pumps, duct work repair and more are available, as well as online, in-person and virtual energy audits. Also, members can enroll online through MLEC’s member portal to receive alertss if their usage is unusually high. (Research suggests homeowners use less of a product when they monitor consumption more closely.)
MLEC is a member-owned, not-for-profit electric utility that serves more than 34,500 meters in Hickman, Houston, Humphreys, Lewis and Perry counties. We are your source for power and broadband and help build brighter futures for the communities we serve. Learn more at www.mlec.com/about-mlec.