{"id":83209,"date":"2017-01-06T05:43:03","date_gmt":"2017-01-06T10:43:03","guid":{"rendered":"https:\/\/thevwindependent.com\/news\/?p=83209"},"modified":"2017-01-06T05:43:03","modified_gmt":"2017-01-06T10:43:03","slug":"paulding-putnam-no-rate-hike-in-2017","status":"publish","type":"post","link":"https:\/\/thevwindependent.com\/news\/2017\/01\/06\/paulding-putnam-no-rate-hike-in-2017\/","title":{"rendered":"Paulding Putnam: No rate hike in 2017"},"content":{"rendered":"<p><em>Submitted information<\/em><\/p>\n<p>PAULDING &#8212; Paulding Putnam Electric Cooperative (PPEC) has announced there will be no general rate increase in 2017.\u00a0This is the third year in a row without a rate increase.<\/p>\n<p>\u201cThe PPEC trustees and employees work hard to deliver electric power that is reliable, safe and cost-competitive with our neighboring utilities,\u201d said PPEC President\/CEO George Carter. \u201cBe assured that we are working to keep your rates competitive, while still working to replace aging facilities, increase efficiency and improve our service reliability.\u201d<\/p>\n<p><img decoding=\"async\" class=\"alignright size-full wp-image-82352\" src=\"https:\/\/www.thevwindependent.com\/news\/wp-content\/uploads\/2016\/12\/PPEC-logo-12-2-16.jpg\" alt=\"ppec-logo-12-2-16\" width=\"300\" height=\"102\" \/>The management team and all employees are charged with ensuring that efficiency savings are part of the budget process. A big part of the budget is a review of our electric rates, which starts with an update of the cost-of-service study, or the COSS, by our accounting department each year.<\/p>\n<p>The COSS breaks down all the investment necessary to serve each rate class, identifies all the costs associated with each rate class, and compares it to the revenue being generated by the rates for each class. With the study completed, the board of trustees can review the financial performance of each rate class. After a careful review of the proposed budget and the COSS, the board determined that no rate increase was necessary for 2017.<\/p>\n<p><!--more-->Stable wholesale power prices are the main driver to stable electric rates. Wholesale power is nearly 70 percent of the cooperative\u2019s total expenses; minor changes have major impacts. A 1 percent change in power cost is about $250,000.<\/p>\n<p>Unfortunately, key indicators for 2018 are showing wholesale prices will rise. \u201cThe term \u2018rate increase\u2019 is something no one wants to hear, but it may be a reality for 2018,\u201d Carter noted. \u201cBe assured, though, that we will continue to remain vigilant in operating your co-op with minimal expense, returning any excess funds back to our members in the form of capital credits.<\/p>\n<p>\u201cIn fact, this past December we returned 1.4 million to PPEC members, bringing the total to nearly $20 million over the last 17 years,\u201d he added. \u201cThis is one of the hallmarks of the \u2018Cooperative Difference\u2019, and we plan to continue this practice as (long as) we are financially able to do so.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Submitted information PAULDING &#8212; Paulding Putnam Electric Cooperative (PPEC) has announced there will be no general rate increase in 2017.\u00a0This is the third year in a row without a rate increase. \u201cThe PPEC trustees and employees work hard to deliver electric power that is reliable, safe and cost-competitive with our neighboring utilities,\u201d said PPEC President\/CEO [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-83209","post","type-post","status-publish","format-standard","hentry","category-news"],"publishpress_future_action":{"enabled":false,"date":"2026-08-04 04:46:37","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/83209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/comments?post=83209"}],"version-history":[{"count":0,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/83209\/revisions"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=83209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=83209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=83209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}