At the Empire Electric Board of Directors' meeting on November 16, the board approved a rate increase effective January 1, 2008. The rate increase averages 8.9 percent and is comprised of the following two elements:
Wholesale Power Purchases:
Empire Electric purchases wholesale electricity from Westminster-based Tri-State Generation and Transmission Association, Inc. Tri-State notified Empire that average wholesale rates will be increased by 11.4% effective January 1, 2008. The pass through of the purchased power costs will increase Empire's retail revenues by about 7 percent over adjusted test year revenues.
Increasing Internal Expense:
The additional general rate increase of 1.9 percent is meant to recover increasing expenses, other than purchased power and will result in a total average increase of about 8.9 percent. Empire's last general rate increase was on January 1, 2006.
If you have questions, please contact Member Services at (970) 565-4444.
