The reduction will be reflected on bills members receive in March. The Board first approved a reduction that was reflected on February bills. For the average Blue Ridge Electric member using a monthly 1,000 kilowatt hours of electricity, the reduction will result in about a nine percent savings. In other words, members will save $9 on every1,000 kilowatt hours of usage on their March bills.
Colder than normal temperatures this winter has increased electricity usage, especially for heating, and has resulted in much higher electric bills for consumers.
“The Board felt it was important to help members and that it was possible to extend the temporary rate reduction by one more month without negatively impacting the cooperative’s financial stability,” explained Doug Johnson, chief executive officer of Blue Ridge Electric, which is a not-for-profit electric cooperative. “The extreme cold has created a situation of higher electricity usage and costs this winter. Combined with the current struggling economy, we believed we needed to reach out in every possible way to assist members,” he explained.
“We hope this temporary reduction, along with energy efficiency steps members are making, will all add up to make a positive difference for our members,” Johnson concluded.