2024 Rate Adjustment: What You Need to Know

Why Are Rates Increasing?

Rising costs across the energy sector have made it necessary to adjust rates to ensure the continued reliability and sustainability of our electric service. Several key factors have contributed to this decision:

• Increased Power Supply Costs – The cost of generating and purchasing electricity has risen due to fuel prices, transmission expenses and market demand.
   

• System Maintenance & Improvements – To maintain a safe and reliable grid, we must invest in upgrading infrastructure, replacing aging equipment, and implementing new technologies.
   

• Inflation & Rising Operational Costs – The costs of materials, labor, and regulatory compliance have increased, impacting overall expenses.

How This Affects You

We understand that any change in rates can impact household and business budgets. To help you better understand the effects, here’s a general breakdown of the adjustments:

For a typical residential member using 900 kWh per month, this adjustment will result in an estimated increase of $2.70 per month.

You can view the full updated rate schedule summary below.

How We Are Supporting Our Members

We know that rising costs can be challenging, and we want to help. Members can take advantage of several programs to ease the impact:

• Budget Billing – Spread your energy costs evenly throughout the year.
   

• Energy Efficiency Programs – Rebates and incentives for energy-saving upgrades.
   

• Payment Assistance – Resources available for eligible members in need.

Visit https://www.cvrec.com/community-programs for details.