Locally owned, not-for-profit utilities like ours have a responsibility to provide reliable, fairly priced power for the long term. Because we take that responsibility seriously, we recently made a change to our rates.
The Maquoketa Municipal Electric Utility Board of Trustees approved electric rate changes effective January 1, 2024, to cover increased costs to operate the local utility and distribute reliable, local power. This is the first change to Maquoketa Municipal Electric Utility’s rates since 2019. The new rates will be reflected on your February bill.
WHY THE CHANGE?
These rate changes adjust the way the utility recovers variable costs, such as electric energy purchased (kWh) on behalf of customers, as well as fixed costs for our local energy infrastructure, including poles, lines, equipment and maintenance. Historically, fixed costs have been recovered partially through the service charge, and the rest through the energy charges on a customer’s bill (kWh). The new electric rates provide more accuratealignment of the costs to serve the customer class with the charges billed to the respective customer, providing a more equitable, dependable price to all customers.
WHAT DOES IT MEAN FOR YOUR BILL?
The overall impact to Residential customers will be a 4.9% increase. The average residential customer is expected to see an increase of $4.70 per month. Although the monthly basic service charge will increase from $13.00 to $18.00, the combined energy charge and PPA (purchased power adjustment) will likely decrease.