Chop­tank Elec­tric low­ers rates

Times-Record - - News -

DEN­TON — Chop­tank Elec­tric is low­er­ing its en­ergy sup­ply rates, mean­ing the av­er­age res­i­den­tial cus­tomer will see a de­crease of $5.34 a month, ac­cord­ing to a press re­lease from the com­pany.

Ef­fec­tive Oct. 3, Chop­tank Elec­tric’s en­ergy sup­ply rates will de­crease due to a greater power cost ad­just­ment (PCA) credit. With this change, the re­duc­tion is equal to a $5.34 sav­ings per month for the av­er­age res­i­den­tial cus­tomer, con­sid­ered to use 1,000 kilo­watt hours a month.

The PCA is a billing com­po­nent, which al­lows the co­op­er­a­tive to re­cover or re­fund the cost of elec­tric­ity it pro­cures for its mem­bers. When the cost of whole­sale power goes down, the PCA rate is low­ered.

This re­duc­tion re­flects lower whole­sale power costs from Old Do­min­ion Elec­tric Co­op­er­a­tive (ODEC).

“Chop­tank’s board ac­tively watches ODEC’s whole­sale power pricing on a monthly ba­sis and any way that we can help the mem­bers save is es­sen­tial to the co-op busi­ness model,” said John Burke, Ce­cil County board mem­ber and Chop­tank Elec­tric’s rep­re­sen­ta­tive on the ODEC board. “Co-ops op­er­ate on an at-cost ba­sis, so when our whole­sale power costs are re­duced, so are our mem­bers’ bills. This is how we add value to our mem­ber­ship, ev­ery­day.”

Chop­tank Elec­tric is a one-eleventh owner of ODEC, whose power sup­ply re­sources are a com­bi­na­tion of owned gen­er­a­tion, pur­chase power con­tracts in­clud­ing re­new­able sources and PJM mar­ket pur­chases.

Del­marva Power, who also has cus­tomers in Caro­line County, has pro­posed a rate hike. That elec­tric com­pany filed an ap­pli­ca­tion in July with the Maryland Pub­lic Ser­vice Com­mis­sion re­quest­ing the rate hike.

If ap­proved, the im­pact on the typ­i­cal res­i­den­tial cus­tomer who uses Del­marva Power will mean an ad­di­tional $21.42 a month in their elec­tric bills. The typ­i­cal res­i­den­tial cus­tomer is de­fined as us­ing about 1,000 kilo­watt hours a month, but the rate hike ap­plies to all clas­si­fi­ca­tions, in­clud­ing com­mer­cial cus­tomers.

Chop­tank Elec­tric, a Touch­stone En­ergy Co­op­er­a­tive, is a not-for­profit, mem­ber-owned, elec­tric dis­tri­bu­tion co-op lo­cated on Maryland’s East­ern Shore serv­ing ap­prox­i­mately 53,000 mem­bers.

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