White River Electric is pleased to announce that electric rates will remain stable in 2022 with no rate increase. WREA approved a rate decrease in 2018 for residential members and a decrease in 2019 for large industrial members followed by three years of rate stability. It is no surprise that the decline in the oil and gas industry around the region has negatively impacted WREA revenues. WREA has endured over a 20% reduction in electric sales over the last few years. This decline has been offset by cost cutting measures, efficiencies, and a rate decrease by our wholesale power provider Tri-State G&T.
Earlier this year WREA hoped to pass along the Tri-State wholesale rate decrease to the WREA members but in the end, it was not feasible due to the continued decline in loads. WREA’s conservative financial nature has allowed it to endure declining loads, maintain rates and reliability while continuing to pay out annual capital credits to our membership. The WREA Board of Directors was clear that rate stability is important for the membership as most other costs have dramatically increased in 2021.
“The Board’s directive was clear, and with a lot of hard work we found ways to turn obstacles into opportunities”, said Alan Michalewicz, WREA’s general manager. Looking back, it has been a very successful year for WREA, according to Michalewicz. “We navigated a challenging fire season and the continued impacts of the Covid pandemic, WREA hosted our first ever Member Appreciation event with over 500 in attendance, offset declining revenues by managing costs and maximizing the value of the wholesale rate decrease and worked hard to provide our members with highest degree of reliability and customer service.” Michalewicz went on to say, “It is a team effort, and I am so proud of our staff who have stepped up to these challenges with optimism and sincere dedication to this company and our membership.”
HOPEWEST PRESS RELEASE | Special to the Herald Times
