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HomeMy WebLinkAbout20150202Press Release.pdfVROCKYMOUNTAIN \ A DTV|STON OF PACTFTCORP For information contacc Media Hotline: 800-775-7950 Annual enersv cost adiustment Price increase of 1.8y" proposed for most customers BOISE, Idaho, Monday, Feb.2,2015-Rocky Mountain Power's annual energy cost adjustment for 20L5 proposes a 1.8 percent overall increase for residential, commercial and irrigation customers, with a larger increase for two large industrial customers. The energy cost adjustment mechanism is designed to track the difference between the company's acfual expenses for fuel and other costs to provide electricity to customers, and the amount collected recently from customers through current prices. Pending commission approval, the adjustment would take effect April 1,2015. Unlike the 2014 adjustment in which most customers saw a 2 percent reduction in their electric prices, this year's increase is primarily driven by increased fuel costs, lower hydroelectric conditions and lower revenues from electricity sales to other companieg which are credited to customers. The proposed increase will allow Rocky Mountain Power to continue to provide safe, reliable electric service to its customers. The company's proposal requests that the Idaho Public Utilities Commission approve deferral of the 2014 energy related costs of $16.6 million and increase revenues collected through the energy cost adjustment mechanism, Schedule9(,by $10.7 million. The proposal would increase the average residential customer's monthly bill by $1.70. The following is a summary of the percentage impacts by customer class: o Residential customers - $1.2 million increase or 1.6 percent . Commercial and most industrial customers - $1 million increase ranging from L.7 percent to 2.6 percent, depending on the rate schedule o Irrigation customers - $1.1 million increase or 1.9 percent o Industrial customer, tariff Schedule 400 - $6.8 million increase or 8.1 percent . Industrial customer, Schedule 401 - $0.5 million increase or 8.0 percent The public will have an opportunity to comment on the proposal during the coming months as the commission studies the company's request. The commission must approve the proposed changes before they can take effect. A copy of the company's application is available for public review at the commission offices in Boise and at the company's offices in Rexburg, Prestory Shelley and Montpelier. Idaho Public Utilities Commission www.puc.idaho.gov 472W. Washington Boise, ID 83702 Rocky Mountain Power offices . Rexburg-25 East Main o Preston - 509 S. 2nd East r Shelley - 852 E. 1400 North o Montpelier -24852 U.S. Hwy 89 ###