GreyStone Power’s Board of Directors recently approved a rate decrease, effective on bills beginning April 1. Affected members will see a “Wallet Watch” credit listed on their bills.
“The average residential member using 1,100 kilowatt hour (kWh) per month will see a net savings of around $9.50 a month,” said Gary Miller, president/CEO of the electric cooperative. “The blended summer and winter average net savings total more than 8 percent.”
He continued, “Although the monthly service charge on residential bills is increasing (from $11.75 to $25), energy charges are dropping substantially. Bottom line, power bills are going down for 99 percent of our members who use more than 372 kWh per month.”
According to Miller, fees were restructured, so power bills more accurately reflect the expenses of providing electric service. “It costs GreyStone almost as much to serve a home that uses several thousand kWh monthly versus one that is using very little electricity, but has an active meter,” explained Miller.
GreyStone Power members can compare savings under the new rate to what would have been paid under the old rate by visiting greystonepower.com.“Both homes require meters and rights-of-way be maintained, power lines, poles and transformers be serviced, as well as other related costs,” said Miller. “By increasing the monthly service charge, all users will pay their fair share in the cost of the electrical system. By lowering the rates, most members will see a net decrease in their power bills. The one percent who will not see a decrease are those using very little electricity, but for whom we still provide electric service.”
Miller said several factors contributed to GreyStone Power being able to pass along a rate reduction, including a favorable renegotiation of a long-term wholesale power contract. This, along with several years of fiscal belt tightening, contributed to the effort.
Two years ago, a decision was made to put a new billing system in place that will save GreyStone more than $15 million over the next 10 years. While there have been growing pains, the results contributed to the reduction of rates.
“Our Wallet Watch effort has certainly contributed a great part in reducing costs,” said Miller. “You can count on us to continue keeping an eye on the bottom line.”
Thousands of GreyStone members helped reduce rates by making their voices heard on Capitol Hill over the last several years in the Take Action campaign. According to Miller, more GreyStone members took part in asking their federal legislators to control energy costs than any cooperative in Georgia, and most in the U.S.
GreyStone Power is an electric cooperative serving over 110,000 members in portions of eight counties west of metropolitan Atlanta. The co-op’s offices are located in Douglasville and Dallas, Ga.