Dear Valued Members,
We hope this message finds you well. We are writing to inform you about an upcoming rate increase that Joe Wheeler EMC will be implementing, effective August 1, 2023. As a not-for-profit electric cooperative, we take our responsibility to safeguard the financial health of JWEMC seriously. This rate adjustment of 4.3 percent was recently approved by our regulators and is necessary to ensure the cooperative remains financially stable and capable of providing the level of service you have come to expect.
Over the past few years, the cost of living has steadily risen, impacting prices across various sectors. Electric cooperatives, including ours, have not been immune to these market trends. In fact, certain aspects of our industry have experienced even greater impacts from inflation.
For instance, the average cost of a utility pole has risen from $167 just three years ago, to more than $285 this year – that's a 41 percent increase. Similarly, the cost of a single 15 KVA transformer has more than tripled, from $674 in January 2021 to $2,438 as of May this year. These escalating costs, coupled with other factors, present significant challenges in maintaining reliable service to our members without considering the increased expenses associated with equipment and supplies.
We understand that any rate adjustment can be concerning, and we want to assure you that we have taken this decision with careful consideration. Our aim is to continue providing you with dependable and affordable electricity while ensuring the long-term sustainability of our cooperative.
Should you have any questions or concerns regarding this rate increase, please do not hesitate to contact us. We greatly appreciate your understanding and continued support as we work together to fulfill our commitment of delivering reliable and affordable electricity to our valued members.
Thank you for your attention to this matter.