Effective June 22, Tipmont REMC’s new residential electric rate (which most members pay) is $0.1137/kWh — an increase of 3.5%.
Once again, the reason is because of unexpected cost increases from our power supplier, Wabash Valley Power Alliance.
In April, Wabash Valley raised Tipmont’s power supply costs to be paid in 2022.
Wabash Valley then raised those costs again in May.
When given the opportunity, Tipmont voted “no” to increasing costs.
To minimize the impact of Wabash Valley’s decisions on our co-op members, Tipmont absorbed these cost increases for two months and reduced remaining 2022 budgets.
However, we were left no choice but to raise energy rates to account for Wabash Valley’s cost increases.
For the average residential home using 1,200 kWh monthly, the monthly bill will increase by about $5.
Learn more about Wabash Valley’s most recent cost increases — and Tipmont’s measures to combat them — at tipmont.org/22rateincrease.
