The Pedernales Electric Cooperative announced Tuesday, February 25, a lower base rate that will result in savings of more than $6 million a year for its membership.
The rate decrease, which goes into effect June 1, represents a savings of $1.25 per month for members.
The decrease reflects a reduction in the cost of power from the PEC’s primary suppliers, which includes the Lower Colorado River Authority. PEC rates are based on maintaining the system and delivering power with prices approved by the Board of Directors.
“As a not-for-profit cooperative, we and our power providers are always working hard to find savings to pass on to our members,” PEC Board President Paul Graf said in a media release.
As a cooperative, PEC doesn’t earn profits. Instead, it allocates capital credits to members when revenues exceed expenses.
For more information, visit pec.coop.