Increases in wholesale power costs and inflation driven expense increases for Cherry-Todd required the Board of Directors to increase the rates at the February 27, 2024 board meeting. The rate increase is effective on April 1, 2024 and the May 2024 billing will be the first statement at the new rate. The new rate sheet Schedule "A" will be available on our website, www.cherry-todd.com.

The single-phase rate was adjusted from a facility charge of $30 to $35 and the rate of the first block (up to 900 kWh) consumed increased from $0.10604 to $0.10804 per kWh. Consumption beyond 900 kWh will increase from $0.09020 to $0.09400. The electric heat rate increased 2.5%, from $0.06100 to $0.06250 per kWh consumed. Security lights and pole rental will not be increasing at this time (0% increase).

As an example, a typical residential electric bill with 1240 kWh used, with one pole rental and one security light with no heat usage will move from $162.96 to $170.44.

The overall increase of the combined rate classes is 5%. The average increase for residential is 5%, three-phase large commercial is 5.2% and stock water wells were increased by 9.3% on the average. The remaining rate classes were similarly adjusted. The power costs and expenses in each rate class were analyzed for the rate study and adjusted for the final rate design. 

The last time that rates were adjusted was in January of 2017 and we have avoided an increase for over 7 years, including the past 3 years of hyper-inflation, due to our continued focus on efficiency and the expansion of our load management program and the resulting power cost savings. 

Thank you for your continued patronage and please call with any questions.