For the second year in a row, Valley Rural Electric Cooperative is reducing the rate members pay for one month's electricity. The bill Valley members receive in January reflects a three-cent cut in the kilowatt-hour rate for electricity used in December 2020.
Valley Rural Electric's board of directors approved the purchased power adjustment at its December board meeting. The move saved the co-op's membership about $800,000, right after the holidays. The reduction was possible due to lower-than-anticipated wholesale power costs through 2020 and was spurred on by the co-op's concern for members as the coronavirus pandemic continues.
"We wanted this to be our COVID relief package," said Valley REC President & CEO Rich Bauer. "We know how challenging the year has been for some of our membership."
Valley REC's kilowatt-hour rate is 9.95 cents. A kilowatt-hour is enough energy to power a 100-watt lightbulb for 10 hours. A typical household uses about 1,000 kwh per month.
An article with additional details will appear in the February issue of Penn Lines magazine.