A MESSAGE FROM YOUR GENERAL MANAGER/CEO
Rate Change Necessary in 2021
At Wharton County Electric Cooperative we are very mindful that every dollar of revenue that we generate comes from you, the member-owners. The Board, myself and every employee recognize the fact that we are dealing with OPM (Other People’s Money). A prominent part of our WCEC Mission Statement includes “…to provide economical and reliable electric energy service…”.
While we are a not-for-profit entity, we must charge enough for your power to cover operations, maintain and expand our electric system, and to satisfy the debt that has been incurred to build our system. The last WCEC rate increase was in 2010 and as you can well imagine, the cost of virtually everything that we do has increased since that time.
After much discussion, analysis, and consideration, the Board of Directors approved a 1% (one- percent) rate increase for all rate classes to become effective on the bills that you will receive on or about September 1, 2021. Although the decision to increase rates is never easy, the Board and I feel that this 1.0% increase is necessary to continue to provide the members of WCEC with reliable power as we have since 1938.
It is worth noting that this rate increase has nothing to do with February’s Winter Storm Uri. The rate increase was initially approved to go into effect in April, but the Board opted to delay the implementation due to the uncertainty surrounding the aftereffects of the storm.
For residential accounts this rate increase will average $1.57 per month and the average barn or stock water well will increase $0.31 per month. Please see the Official Notice of Rate Change in the August edition of Texas Co-op Power Magazine (and linked below). If you have any questions or comments, please contact me at 979-543-6271.
Thank you for your continued patronage and support of Wharton County Electric Cooperative.
RATE CHANGE Q&A
How much will rates increase?
For an average household, the rate change would mean an average increase of $1.57 per month.
Why are rates increasing?
According to a recent rate study, WCEC’s return on invested capital has been slowly decreasing since the last rate change in 2010. The new rates seek to increase the rate structure on a pro-rata share across all rate categories.
Is this increase because of Winter Storm Uri?
Not at all. The rate increase was initially approved to go into effect April 1, 2021, but the Board opted to delay the implementation due to the uncertainty surrounding the aftereffects of the storm.
When will my bill change?
The change will appear on your monthly statements effective September 1, 2021.
How will this rate increase affect the co-op’s profits?
We are a not-for-profit, member-owned cooperative. We exist to serve our members with reliable, affordable power and any margins (profits) we receive are invested into the electric system or refunded to you, the member-owner of WCEC, in the form of capital credits.
What can I do to reduce my bill?
There are many ways to reduce your energy use. Learn ways to save energy at: MyWCEC.coop/save.
You can also contact us to learn more about energy efficiency, residential energy audits, and our load management program.