FOR IMMEDIATE RELEASE: The Indiana Municipal Power Agency (IMPA), Lebanon’s wholesale power supplier, recently announced a projected wholesale electric rate increase for 2016. The increase to Lebanon of 1.47% reflects the cost increases in fuel, system improvement, environmental compliance and operations being incurred by the wholesale power agency. There is no mark-up in this increase. It is a direct pass through to both residential and commercial customers.
Customers will see the electric rate increase from IMPA passed through on their utility bills beginning in 2016. However, the impact on rates will be minimal. For residential customers consuming an average of 1,000 kilowatt-hours (kWh) a month, only a 0.1% change in the tracker will be seen. For most residential customers, it equates to about $0.16 more on your monthly bill. Commercial customers will see a slightly larger increase, with the tracker increasing an average of 1.23%. Commercial customers consuming 8,000 kWh or less will see an increase of less than $10 a month on their bills.
Lebanon is one of 59 cities and towns that purchases power from IMPA, and each consistently has electric rates that on average rank below those of the leading investor-owned utilities in Indiana. IMPA’s diverse power supply portfolio, comprised of a variety of fuel resources, allows the Agency to accommodate and minimize cost fluctuations year to year. Despite the wholesale rate increase, IMPA’s member communities will still receive electricity at a competitive cost.
“As a municipally-owned family of utilities, it is always our goal to provide our community with reliable, economical and high quality services in a friendly and courteous manner,” said Lebanon Utilities General Manager, Jay McCoskey. “Together as a community by monitoring our electric consumption and reducing usage where able, we can help mitigate the effects of rising costs.”