Homer Electric Association, Inc. (HEA) members will see a slight decrease in their monthly bills beginning April 1. HEA proposes a decrease to the Cost of Power Adjustment (COPA) rate of about from $0.07077 per kilowatt hour (kWh) to $0.06701 kWh, which is a drop of 5.32 percent.
The COPA is adjusted on a quarterly basis and primarily reflects the cost of natural gas used to generate power for HEA members.
With the energy and regulatory cost charges per kWh, the new rate will be $.2165699 or just under 22 cents a kWh.
The average residential member who uses 550 kWh/month will see a $2.06 reduction in their bill.
“The primary driver for this decrease has been the ability of HEA to make purchases of spot market gas at lower prices than its base contract,” HEA said in a press release. “These opportunities are not always available, so when they present themselves, HEA acts on the opportunity to lower costs on behalf of the membership.