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EnergyUnited reduces rates
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Published: February 6, 2010
EnergyUnited customers will notice a welcome change to their electric bill this month.
As of Feb. 1, the rates on the bills will go down 5.5 percent, said Tim Holder, EnergyUnited Vice President of Sales and Economic Development.
The average residential customer who uses 1,000 kilowatt hours a month would see an estimated $6 a month decrease depending on usage.
EnergyUnited CEO H. Wayne Wilkins wrote in the electric cooperative's monthly newsletter that the reduction is the result of a lower wholesale power cost adjustment and its efforts to control operating cost.
The wholesale cost varies from month to month depending on the expense of producing electricity.
Holder said lower-than-expected coal and natural gas prices have played a big role in reducing the rates. The company has also put a lot into managing its assets and operations, he said.
EnergyUnited has around 25,000 customers in Iredell County.
"We are in a fortunate position we've managed our cost and fortunately it's paid off," Holder said. "We've been very proactive managing the cost of business."
Wilkins said the company hasn't had a rate increase since 2005.
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