Electric Rates To Decrease For L’burg Residents In 2018
Press release from Indiana Municipal Power Agency and Lawrenceburg Municipal Utilities
(Lawrenceburg, Ind.) – Beginning in 2018, Lawrenceburg Municipal Utilities will see a decrease in its electric rates from its wholesale power supplier, the Indiana Municipal Power Agency (IMPA). The Agency’s Board of Commissioners approved a 6.26% decrease in 2018 wholesale electric rates for its 61 member communities, which will go into effect on January 1, 2018.
“While prices seem to be on the rise for other utilities, IMPA is extremely proud to pass on a decrease in wholesale electric rates to our member municipal utilities for 2018,” commented Raj Rao, President and CEO.
“Thanks to the visionary efforts of our founding fathers in the 1980s, who foresaw the benefits of creating an organization that would own and share generating resources amongst many utilities, our members continue to reap the benefits of municipal ownership and Agency membership. IMPA’s ownership in generation assets, combined with a reduction in regulatory requirements at the federal level and our strong financial position, has enabled us to pass on this decrease to our members.”
This is the second year in a row that IMPA’s wholesale electric rates to member communities have decreased. The Agency’s rates are based on its operating costs, which are derived from its diverse generation and transmission ownership, purchased power, debt service and administrative and general expenses. The 2018 decrease is the result of IMPA’s investments in generation and transmission projects over the last two decades. All of the Agency’s newer units, including new solar projects, and a reduced regulatory burden are contributing to lower, sustained costs for 2018 and beyond.
“IMPA has traditionally provided some of the lowest wholesale electric rates in the state,” commented Olin Clawson, LMU General Manager, CEO and IMPA Commissioner for Lawrenceburg. “The Agency’s commitment to providing a low-cost, reliable power supply to its members enables LMU to provide that same commitment to our customers. This wholesale rate decrease is just another example of how Lawrenceburg and IMPA work to best serve the people in our community. When LMU works on issues such as improving our load profile and striving to avoid high coincidental peak demands, everyone benefits.”
“This reduction in electrical rates will result in lower energy cost for 100% of our residential, commercial and industrial customers alike,” said Kelly Mollaun, Mayor of the City of Lawrenceburg. “A reduction of this magnitude (6.26%) in today’s economy is relatively unheard of and solidifies the commitment of LMU and the City of Lawrencburg in partnering to maximize our City as the place to be.”