GreyStone Power’s Board of Directors approved a rate decrease. Affected members wee a “Wallet Watch” credit listed on their bills.
“The average residential member using 1,100 kilowatt hour (kWh) per month sees a net savings of around $9.50 a month,” said Gary Miller, president/CEO. “The blended summer and winter average net savings total more than 8 percent.”
GreyStone Power members can compare savings under the new rate to what would have been paid under the old rate by visiting greystonepower.com
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.”