GVEA rates on the rise
September 19, 2011
By Dermot Cole of the Fairbanks Daily News-Miner: Electric rates are going up again because of higher fuel costs, according to documents filed by the Golden Valley Electric Association with the state.
The cost to a consumer using 500 kilowatt hours a month will go from $111.96 to $116.42, under rates approved by the Regulatory Commission of Alaska Thursday.
“The proposed increase is driven primarily by higher than anticipated fuel costs, as well as lower projected sales than the previous quarter. The effective price of fuel per gallon is increasing to $2.79/gallon, which represents a 19.7% increase of $0.46 per gallon over the previous price, $2.33/gallon, and the estimated sales for the 3 month period are decreasing approximately 9% from the previous quarter,” the regulatory agency said. Read more