Albany and Clinton County residents continue to feel the effects of a strained economy, with rates and the price of goods seeming to increase on a daily basis.

When local customers receive their next bill from South Kentucky RECC for electricty, that pinch will again surface, according to a press release from the company issued to the Clinton County News on Monday.

That release gives customers short notice that the company has been approved for a rate increase, and that the increase will take effect immediately, with the next billing that customers receive.

According to the information in that release:

South Kentucky RECC has been approved for a rate adjustment from the Kentucky Public Service Commission (PSC).

In the order issued March 30, the PSC commended South Kentucky RECC for its commitment to programs that encourage its members to manage energy demand and improve energy efficiency. The PSC also praised the co-op for taking steps to reduce outages during storms by stepping up the vegetation management, or right-of-way, along its power lines.

South Kentucky RECC’s residential consumer charge will change from $9.14 per month to $12.82, an increase of $3.68 per member per month. The usage charge will remain unchanged at 8.54 cents per kilowatt hour. This means that all members, regardless of how much electricity they use, will see the same increase of $3.68 on their monthly bills. The overall increase amounts to about 3.12 percent.

Small commercial members will also see their consumer charge change from $17.14 to $23.79, but like the residential members, will see no increase in their usage charges.

The consumer charge is applied to all accounts to help the co-op recover fixed costs, which include the costs of poles, wires, metering, and all other equipment necessary to get electricity to members’ residences or places of business, based on a cost of service study.

The adjustment to consumer charges will begin appearing on members’ current electric bills, since it went into effect on March 30.

The PSC’s approval is slightly different than what South Kentucky RECC originally requested, but SKRECC CEO Allen Anderson said this should still satisfy revenue needs.

“Considering the Commission made changes to our schedule of depreciation and relaxed the importance for the rotation of capital credits during these depressed economic times, the amount of revenue approved by the PSC will satisfy our present needs.”

Anderson added that this is only the second increase that the co-op has had in 23 years.

“South Kentucky RECC employees pride themselves on operating as efficiently as possible and delaying the need for an increase as long as we could and still meet our debt obligations. Inflation has caught up with us, making this small increase necessary.”

“Having a rate increase is one thing we always try to avoid, because we know that it impacts our members and our employees, as well,” said Anderson.

It is important to know that, South Kentucky RECC offers an array of programs that can help members manage their energy costs. These include energy-efficiency programs, such as Button-Up, Tune-Up, and home energy audits that have helped hundreds of members reduce electricity consumption and save money.

The co-op also offers a levelized billing option, which will assist members when budgeting for their electricity costs.

Members can call South Kentucky RECC to learn more about these and other opportunities to save money and perhaps increase the value of their homes.

Kentucky has the 4th lowest average electric rates in the nation, according to Monday’s press release.

Anderson said, “I have confidence that it will always be our top priority to properly balance providing reliable electric service, while keeping costs as low as possible.”