2023 Retail Rate Information
In today’s modern, connected world, having a source of clean, safe, reliable, and affordable electricity is crucial. That’s what Consumers Power strives to deliver to you all day, every day. We’re proud of our efforts to serve your needs with competitively priced electricity, responsive member service, proactive and necessary investments in the electric delivery grid, all while maintaining the financial ability to retire member capital credits on a regular basis.
Recent developments have impacted CPI’s costs to provide the high level of service you’ve come to rely on, including:
- Dramatic increases in the costs of materials to maintain and improve our system – such as fuel, wood, copper, steel, aluminum, plastics, rubber, and fiberglass used in transformers, regulators, reclosers, poles and wire. For example, the U.S Consumer Price Index for the Energy Sector is up 27% and the Energy Services Sector is up 13.6%
- Expenses around government regulations, utility mandates, and legal challenges for issues like renewable energy, carbon reduction, and fish and wildlife mitigation programs.
- Rising expenditures related to the continued implementation of CPI’s Wildfire Mitigation Plan and associated compliance.
- Increasing capital costs for routine maintenance and replacement of aging substation equipment and transformers.
Because of the fragile state of our region and the nation due to the COVID-19 pandemic, rate adjustments have been intentionally deferred or held to minimum levels. Consequently, it is necessary for CPI to increase rates now. Effective with bills mailed starting April 1, CPI rates will increase by10.3% or $12.90 per month for the average residential member using 1,100 kilowatt-hours.
As a cooperative, CPI is a not-for-profit utility. Our rates are designed not to make a profit, but simply to cover the costs of providing power. CPI’s goal is to provide the highest quality electric service at an affordable cost. This increase is a key element for CPI to continue to deliver safe and reliable power. Our electricity rates continue to remain competitive, as many utilities in the area face similar cost pressures.