Dear Valued Members,
We are reaching out to inform you about an upcoming adjustment to our rates at Joe Wheeler EMC, which will take effect on June 1, 2024.
At Joe Wheeler EMC, we prioritize transparency and accountability in all our decisions. Therefore, we want to provide you with context regarding this rate adjustment. As a not-for-profit electric cooperative, we are dedicated to maintaining the financial health of our organization while ensuring the continued delivery of high-quality services to you, our esteemed members.
Recently, our regulators approved a modest rate increase of 6.2 percent. This adjustment is essential to sustain the financial stability of our cooperative and uphold the level of service excellence that you have come to expect from us. Please be assured that this decision was made after a thorough evaluation and with your best interests at heart.
In recent times, we have witnessed a notable surge in inflation, coupled with escalating costs of labor and materials. U.S. Bureau of Labor Statistics confirmed that electricity inflation exceeds Consumer Price Index (CPI) benchmark by approximately 80% which puts significant amount of pressure on our financial operations. These factors have significantly impacted operating expenses across various industrial sectors, including our own cooperative. As a result, Joe Wheeler EMC is faced with the challenge of adapting to these economic realities while maintaining our commitment to affordability and reliability.
We recognize that any adjustment to rates may raise concerns, and we want to assure you that we have approached this decision with careful deliberation. Our primary objective remains unchanged: to provide you with dependable and affordable electricity services, regardless of the prevailing challenges.
Your satisfaction and trust are paramount to us. If you have any questions or apprehensions regarding this rate adjustment, please don't hesitate to reach out to us. Your feedback is invaluable as we strive to serve you better.
We extend our heartfelt gratitude for your understanding and continued support as we navigate these changes together. Thank you for entrusting us with your energy needs, and we remain committed to delivering exceptional service to you, our valued members.