Changes for 2024 by Eric Eriksen
2024 electric rates
In the October 24 Board of Directors meeting, electric rates were reviewed and approved effective January 2024. A detailed rate comparison can be found below and online at www.slvrec.com (Services, Electric Rates). These changes are associated with a three-percent cost of purchased power increase effective Jan. 1, 2024, and a three-year plan to recover rate deficiencies, which was approved 2021. Employee operational efficiencies helped reduce the impact of these changes Residential members will experience about a 1.3 percent increase, which is less than previously mentioned and well below national inflation trends. This is about $1.53 per month at a typical 667 kWh home.
At SLVREC we always ask: What’s best for members? We first look for ways to improve instead of just passing along the burden of inflation. Affordable rates are the result of strategic planning, members, partnerships and the hard work by every employee.
New Electric Vehicle (EV) rate
A new electric vehicle rate was approved effective Jan. 1, 2024. This is a time-of-day rate is designed to help minimize system demand and create savings opportunities. For example, if a member charges their EV on the new rate off-peak from 9 p.m. to 1 p.m. the next day, then they’ll save about 83 percent per kWh. This is also a savings for all members because the EV charging occurred at the same time our cost-to-purchase-power was lowest. It’s a win-win to support green energy technology like electric vehicles while also minimizing the demand for building new costly infrastructure or higher energy rates. Qualifying applicants will receive up to an allowable $1,100 towards installation of new EV metering equipment. Contact us at 719- 852-3538 for more information.
New electronic voting
Technology provides additional opportunity for member engagement and communication. As a member of San Luis Valley Rural Electric Cooperative, your voice matters. Consideration for bylaw revisions regarding use of electronic notifications and voting were presented to the Board of Directors during the Oct. 24 meeting. They will be voting on these revisions at a Dec. 12 meeting. If approved, further consideration will be given to implementing electronic notifications and voting for the 2024 annual meeting. Please see proposed bylaw revisions online at Electronic Notification and Voting Revisions.approved, further consideration will be given to implementing electronic notifications and voting for the 2024 annual meeting. Please see proposed bylaw revisions online at:
www.slvrec.com/notice-bylaw-revision-consideration