GVEA Rate Change, Effective September 1, 2024

GVEA's Fuel and Purchased Power rate, which is updated quarterly and reflects the cost to generate and purchase power, decreased on September 1, from 13.731¢ to 13.124¢ per kilowatt hour. This rate will be in effect through November 30.

The decrease can be attributed to generation sources running as projected and a smaller load resulting in less fossil fuel consumption in the prior quarter. Additionally, fuel prices are projected to remain stable during the upcoming quarter.

The Fuel and Purchased Power rate is a straight pass-through charge. GVEA's members are only charged the actual cost to generate and purchase power, there is no mark-up. This charge is an estimate of what GVEA anticipates will be its costs over the next three months to generate and purchase the energy necessary to meet the electrical needs of its members and a true up of any over-collected or under-collected amounts from the prior quarter.