High West Energy Postpones Rate Increase
In an unexpected turn of events, we're pleased to announce the postponement of the proposed rate increase originally slated for implementation this billing cycle, which was scheduled to take effect on March 1, 2024. This decision comes after our power supplier, Tri-State Generation and Transmission, announced that the Federal Energy Regulatory Commission (FERC) had rejected its rate filing. Tri-State will have the opportunity to re-file once the concerns raised by FERC have been addressed; however, we have decided not to proceed with the implementation of our rate increase at this time.
In February, we communicated our plan to implement a rate increase, projecting an overall revenue increase of 4.4% for the cooperative. This adjustment was necessitated by an expected 6% increase from Tri-State. As a cooperative, our focus is not on profit, but rather on securing funds to sustain operational needs and support our members. Currently, we do not deem it necessary to raise our rates until a corresponding increase is passed on to us or the financial status of your cooperative signals a need for an increase.
Although we have postponed our rate increase, we are proceeding with our single Time-of-Day rate model, synchronized with Tri-State's peak hours. These peak hours are from 1 pm to 9 pm, Monday through Saturday. Sundays and designated Tri-State holidays, including Memorial Day, Labor Day, Independence Day, Thanksgiving, Christmas, and New Year's Day, will be classified as off-peak hours.
Furthermore, if your account is being transferred to a new or different rate category, this will still take place, but there will be no adjustments to the actual rates.
We understand the importance of maintaining affordability while delivering quality services, and after careful deliberation, we've concluded that postponing the rate adjustment aligns better with our commitment to member satisfaction.