Rate Changes to be Implemented April 2024

February 8, 2024

Effective April 1, 2024, Union Power Cooperative is compelled to implement our first rate increase in five years. The impact to a member served under our General Service rate is anticipated to be less than $8 per month, on average.
The rate increase is primarily driven by substantial increases in the costs associated with providing service to our members—including the cost of wholesale power, operating expenses, raw materials, construction, and maintenance. The increased costs have only been pronounced by inflationary pressure throughout the industry.
To determine the amount of the rate increase, the Cooperative, in conjunction with an independent consulting firm, recently completed a Cost-of-Service Study involving an in-depth analysis of the costs associated with providing service. The results of the study revealed—or rather confirmed—that our existing rates are insufficient to keep pace with the rising costs of providing service. The rate increase is necessary in order to make crucial investments in infrastructure to sustain the reliability and resiliency of our growing electric system.
Periodic rate adjustments ensure the financial strength and security of your Cooperative and our ability to provide our members with safe, reliable electric service. More information will be forthcoming.