Based on the most recent residential electric rates for Railbelt utilities, the rate for Seward Electric is the lowest.
Seward Electric’s total residential rate comes in at .15398 cents/kwh, resulting in a monthly bill of $114.49 based on average residential usage of 600 kwh/month. The residential rate for Chugach Electric places second at .18339 cents/kwh, or $118.04 a month, while Homer Electric Association had the highest rate among Railbelt utilities, coming in at .24574 cents/kwh or $167.45 a month.
Two key factors contributing to the lower rate for Seward Electric is the lower winter rate that went into effect in November and the cost of power adjustment (COPA) that is changed monthly based on charges from Chugach Electric. For Seward Electric, the COPA dropped from .09902 cents/kwh to .076448 cents/kwh, reflecting a decrease of 23 percent.
The COPA for Seward Electric went into effect January 15 and will remain in place through February 15, at which time it will be updated.