December 20, 2024 - As anticipated, a rate change for Lake Country Power members was approved by the board of directors at the December 19, 2024, regular board meeting. These changes and adjustments will go into effect on January 1, 2025.

The changes are a direct result of passing through the increased costs associated with energy generation and transmission. Lake Country Power’s wholesale power costs are expected to increase by 8%, largely due to the aggressive buildout needed to accommodate the transition from traditional power generation to carbon-free sources.

“The transition to alternative energy sources is certainly having an impact on us,” said Mark Bakk, LCP’s general manager. “New generation sources are needing to be constructed as well as the transmission lines that will transport the energy to where it will be used.”

The approved general service rate calls for an added .73 cents per kilowatt-hour (kWh) to residential and small commercial rates. For the average co-op member consuming 600 – 1,000 kWh per month, this will result in a monthly bill increase of about $5 – $7, depending on energy usage.

LCP’s special Energy Wise® program rates (i.e. dual fuel, off-peak, interruptible water heating) will also see an increase. No change will be made to the monthly Service Availability Charge.

Lake Country Power plans to utilize deferred revenue to limit the necessary 2025 rate increase to only the direct pass-through amount of increased wholesale power costs.

“While Lake Country Power continues to experience cost increases throughout our operations, we are doing what we can to limit the impact while maintaining our commitment to providing safe and reliable electric service to our member-owners,” said Tracy Peterson Wirtanen, LCP chief financial officer.

See table below for all rate classifications and adjustments.