Members will receive credit in August
In April, Tri-State Generation & Transmission announced a 2% reduction in their wholesale electric prices effective March 1, 2021 for all members of Tri-State, which includes REC. At the June Board of Directors meeting, the Board approved passing this cost reduction on to REC members in the form of a bill credit. Since REC’s electric rates have been set for 2021, a bill credit is the quickest way to return this cost reduction to members. The credit will show up in the August bills and will include the cost reduction retroactive to March 1, so the first credit you see on your bill will be larger than subsequent credits. It will be passed on as an average credit of $0.0016 per kilowatt-hour.
REC has engaged Power Systems Engineering of Madison, Wisc. to perform the triennial cost of service study. The reduction in electric costs from Tri-State is being included in this study and will be included in future rates.
Tri-State has announced it will implement another 2% reduction next year, which will also be included in REC’s future rates.