Lower Valley Energy to raise electric rates

Lower Valley Energy has announced it will increase its electricity rates by 2.63 percent effective October 6.

The cooperative said it was forced to adjust rates because of a 6 percent increase in wholesale cost increases from the Bonneville Power Administration. In a statement, Lower Valley Energy said it re-examined its costs of service and operational efficiencies, but could not absorb the entire pressure of wholesale rate hikes.

The utility gets the majority of its electrical power from BPA’s federal dam system in the Columbia River basin. Bonneville Power’s costs increased based largely on lower-than-expected demand for power, a declining forecast of surplus power sales revenues due to lower market prices, and increased wildlife mitigation programs.