Q2: No change in base rates, increase in COPA rate
Palmer, AK - Starting April 1, 2024, MEA members will see an overall increase in their rates due to a 5.6% increase in the Cost of Power Adjustment Rate (COPA) component of their bills. A typical MEA member consumes approximately 650 kWh per month of electricity and can expect a total increase of about $2.54 (or 1.7%) on their monthly bill due to the second quarter COPA adjustment. The COPA increase is primarily due to an increase in projected purchased power and a decrease in power sales.
The COPA rate, which primarily includes fuel and purchased power costs, is subject to RCA review and approval. The base rate component (consisting of the “energy” and “demand” charges) of member bills includes the bulk of the other costs necessary to bring power to MEA members’ homes and businesses. The MEA Board of Directors voted not to change base rates in the second quarter.
MEA may file limited base rate increases or decreases on a quarterly basis, provided the adjustments stay within certain financial parameters established by the RCA. All rates are subject to a variety of factors including member electric use, weather, inflation, and other economic factors.
