Beginning Oct. 1, Newberry Electric Cooperative members will experience a 1 percent rate adjustment on residential electric bills, as well as a change in the base rate.
These adjustments are a result of increases in costs to provide you with electric service and wholesale power costs.
The average member will not see an increase in their monthly power bill because both of these increases are stemming from the wholesale power cost adjustment, which at one time was 4.4 cents.
The new wholesale power cost adjustment will be zero.
NEC President and CEO Keith Avery says, “We aggressively strive to contain costs and make sound financial decisions in the best interest of our members; however, the cost of power represents 70 percent of our overall budget. As a member-owned, not-for-profit cooperative, we remain committed to our mission, which is to provide our member-owners dependable and reliable electric service in the most courteous manner while maintaining competitive rates.”