PVREA board approves rate increase for 2013
The increase will amount to about $4.37 per month for a typical residential consumer, according to PVREA.
The rate hike follows a 4.9 percent increase in the rate of wholesale power from PVREA's power provider, Tri-Sate Generation and Transmission Inc.
Tri-State has also restructured wholesale rates, resulting in an additional 1.2 percent increase to PVREA. In total, the rate increase for PVREA is 6.1 percent.
This equates to an jump in costs to PVREA of $4.2 million in 2013. Wholesale power represents about 77 percent of PVREA's total expenses.
"Tri-State and PVREA are not in a unique position," said Jack Schneider, PVREA board president. "A number of other utilities across the state, region and country are facing the same issue of having to increase rates as regulatory and environmental costs continue to accelerate and the next generation of power plants and new resources are being developed."
More breaking news...
Flood recovery funds available through state program
Woodward, an energy and aerospace controls systems company
Xcel Energy seeks to reduce energy efficiency programs
The Colorado Department of Local
Regus offers co-working space for Earth Day
House OKs higher fines for oil companies