Jones-Onslow is pleased to announce that customers will again see a credit on their electric bills starting this month and continuing throughout the remainder of 2016.
The credits have been made possible due to a couple of factors. First, JOEMC has experienced lower-than-expected wholesale power costs of electricity. These power costs can account for as much as 66 percent of our operational expenses and that significantly impact rates. A second factor has been the continued commitment of JOEMC’s employees to work and implement operational efficiencies whenever possible.
Based on our current financial position and forecasted predictions for the remainder of the year, the Board of Directors has voted to return roughly $4.8 million to you, our customers.
This money will be returned as a credit on your electric bill over a five-month period starting in August. The credit will appear on your statement as a Wholesale Power Tier Adjustment (WPTA) and will be based on your electric use.
The WPTA credit will be $10.00 per 1,000 kilowatt-hours of electricity used. The graphic below shows an example of a member that used 1,250 kWh during the previous month.
“We are very pleased to be able to provide these credits to our customers,” said CEO Jeff Clark. “Being able to return savings directly to them is one of the core principals of being a cooperative. We will continue to work each and every day to operate as efficiently as possible while providing safe, reliable and affordable electric service with uncompromised excellence in customer service.”