As we enter the last month of the year, Clay Electric Co-operative wants to wish you and yours all the best this holiday season. We hope you enjoy a merry Christmas and a happy new year.
2023 has been a year of economic hardship in many ways. Every American has experienced increased costs in every facet of modern life. Inflation has risen dramatically in the last year and, while recent reports have inflation slowing, the value of your hard-earned dollar isn’t increasing. The power sector isn’t immune to these economic factors. Stories continued through 2023 of volatile power markets, rate increases at investor-owned utilities, and a shortfall of energy production leading to power interruptions. This summer saw the Midwest Independent System Operator (MISO) announce Max Generation Events which had us ask our members to conserve as much power as they were able to. Peak winter months may see similar calls from the regulatory agency. We will continue to keep our membership informed of these situations as they happen.
At Clay Electric Co-operative, we take our responsibility to provide you with safe, reliable and affordable power very seriously. This year saw us institute a modest $6 increase on the facility charge to each of our members. Our goal is to keep any bill increases to the absolute minimum during these challenging financial times. Our power provider, Southern Illinois Power Cooperative (SIPC), is in the process of changing its rate structure charged to the cooperative. With these changes will come a rate study at Clay Electric. During this process, the cooperative will determine how best to meet its revenue requirements and allocate rates to cover costs associated with power distribution. Be assured that your cooperative will continue to make every effort to minimize the financial burden on your electric bills. As costs continue to rise, we must continue to monitor our financial outlook to keep pace.
Lastly, be sure to keep an eye out for your member number in the center section of this magazine. There are three member numbers hidden within the pages of Clay Electric News. If you spot your number and give us a call, you’ll win a $5 discount on your next bill!