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GVEA’s Fuel and Purchase Power charge quarterly update

by | Jun 1, 2021 | Rates | 0 comments

GVEA’s Fuel and Purchase Power (F&PP) charge is adjusted every three months and is one of the line items that appears on a residential member’s monthly electric bill.

The F&PP charge reflects any increases or decreases in the cost of fuel that GVEA expects to incur during the upcoming three month period in connection with generating and/or purchasing the electric power necessary to serve our members. Just like the cost of fuel at the gas pump, the cost of fuel to generate power and the cost to purchase power fluctuates.

The F&PP charge is a straight pass-through charge, meaning that GVEA does not add any additional fees or costs. Members are only charged the true cost that GVEA pays to generate and purchase power.

Effective June 1, the F&PP rate will increase from 9.655¢ to 9.978¢. A residential member with a monthly average usage of 600 kWh per month will see their bill increase by $1.94.

GVEA takes the cost of power seriously and realizes the impact on our members. Please be assured that while GVEA cannot control the volatility of fuel oil pricing, we constantly seek to stabilize the F&PP rate for members and we work hard to keep the rate as low as possible.

The F&PP is only one component of a member’s bill. The other charges on a residential member’s bill that GVEA has control over have remained the same for the past 18 months, and will remain the same through December 2021. This is due in large part to the aggressive measures GVEA took to keep operating costs low during the pandemic.

GVEA continues to work with members who are impacted by the pandemic. In December 2020, GVEA started the Benevolent Fund to assist members who are experiencing financial hardship and at risk of being disconnected. GVEA also shares resources for members as they become available. For more information about the Benevolent Fund and other programs available, please visit http://d0q.d2f.myftpupload.com/covid-19/.

The current F&PP rate will remain in effect through August. The next F&PP rate will become effective September 1, 2021.

Here are the most recent quarterly F&PP rates:

  • June 1, 2021: 9.978¢
  • March 1, 2021: 9.655¢
  • Dec 1, 2020: 8.172¢
  • Sept 1, 2020: 9.614¢
  • June 1, 2020: 7.095¢
  • Mar 1, 2020: 10.965¢
  • Dec 1, 2019: 10.998¢
  • Sept 1, 2019: 9.177¢

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Meadow Bailey

907-451-5676
pr@gvea.com

Ashley Bradish

907-458-4518
pr@gvea.com

Grace Wilson

907-458-5847
pr@gvea.com

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