GVEA Rate Changes – Effective March 1 through May 31

On March 1, GVEA's Fuel and Purchased Power rate increased by $0.00557, less than one cent, from 12.607¢ to 13.164¢ per kilowatt hour. This rate is in effect through May 31. Residential members will see their total monthly electric bill go up by approximately $3.34, based on an average usage of 600 kWh per month. This increase can be attributed to projections for this quarter that take into account required annual maintenance at GVEA's lower-cost generating facilities. During this time, more electricity will need to be generated using higher-cost fuel sources.

As a reminder, the Fuel and Purchased Power rate is a straight pass-through charge, it is not a surcharge and there is no mark-up. GVEA's members are only charged the actual cost to generate and purchase power. This charge is an estimate of what GVEA anticipates will be its costs over the next three months to generate and purchase the energy necessary to meet the electrical needs of its members, and a true-up of actual versus projected costs from the prior quarter.