Golden Valley Electric Association (GVEA)’s Fuel and Purchased Power rate, which is updated quarterly, increased by 2.942¢ on March 1, from $0.09164/kWh to $0.12106/kWh. This rate is in effect through June 1.
Residential members will see their monthly electric bill go up by an estimated $17.65, based on the average usage of 600 kWh per month.
The Fuel and Purchased Power rate is a straight pass-through. GVEA’s members are only charged the actual cost to generate and purchase power, there is no mark-up. This rate is a quarterly estimate of what GVEA anticipates will be its costs over the next three months to generate and purchase the energy necessary to meet the electrical needs of its members and a true up of any over-collected or under-collected amounts from the prior quarter.