October Rate Adjustment
TVA’s recent announcement of a 1.5% wholesale rate increase will be reflected on Pennyrile Electric member’s bills beginning October 1st. In addition, there will also be a slight increase to the monthly customer charge in the amount of $2.50 to aid Pennyrile Electric in recovering fixed costs. However, due to a significant decrease to the monthly fuel cost, the average residential member will see very little change to their October bill.
Pennyrile Electric President and CEO, Greg Grissom says, “These adjustments are something we only consider when it is absolutely necessary. Maintaining dependable service at the most affordable price possible remains the cornerstone of our business. To accomplish this goal, we must also protect the integrity and financial stability of our organization.” Pennyrile Electric operates on only a portion of the money collected each month. In fact, 73% of every dollar collected is paid to the cooperatives wholesale electric power provider, TVA.
Please contact your local Pennyrile Electric office with any questions or concerns regarding this rate adjustment. Click here for complete details on current electric rates.