Fall River board offsets wholesale rate hike
ASHTON, Idaho (KIFI/KIDK) - Members of the Fall River Electric Cooperative will not see a rate increase this year. And beginning next year, may see a small reduction.
The Bonneville Power Administration (BPA) implemented rate increases for both wholesale power and transmission costs to 143 northwest electric utility customers on October 1. BPA is the primary source of Fall River's wholesale power.
The nine-member elected board of Fall River Electric decided the cooperative would absorb BPA's rate increase. Based on the coop's financial condition, the board determined it could absorb the increase, then authorized a decrease in its kilowatt hour charge.
Fall River Electric CEO/General Manager Bryan Case said, "Over the course of the past ten years, due to the Cooperative's aggressive efforts to control costs, the Co-op's equity has increased from 26% to over 40%. This significant improvement makes it possible for the Cooperative to take the actions the board decided to implement in January."
What that means to the average year-round residential user is a slight decrease in their monthly bill. The rate changes will go into effect on January 1, 2020 and will be reflected on members' statements in February.
