Residential Rate Update Effective April

We know your electric service is something you depend on every day. As your cooperative, our goal is to keep your power reliable and affordable while planning for the future. To support that commitment, we recently made an adjustment to electric rates and want to take a moment to explain this decision and what it means for you.

Hendricks Power completed a thorough cost analysis to ensure rates fairly reflect the true cost of delivering electricity. While we can’t control every expense, we—along with our Board of Directors—are responsible for how carefully we plan and manage your cooperative. This change will better reflect the cost of wholesale energy and the maintenance of the electric system that serves our members.

Our poles, lines, substations, and equipment all have life cycles, so we maintain and replace them proactively to prevent outages and avoid costly emergency repairs. We balance maintenance, upgrades, growth, and technology to keep power safe, reliable, and affordable.

Strategies, including vegetation management, data-driven planning, forecasting future growth, and implementing long-term improvements, such as replacing aging poles, upgrading substations, and converting overhead lines underground, allow us to provide the quality you expect. We continuously evaluate suppliers, negotiate contracts, and work with partners to control costs—because we treat your money like it’s our own and continually seek the best value to keep bills as low as possible.

We recognize that many families are already feeling the impact of rising costs. That is why we carefully manage expenses before making any rate changes. In fact, this is only the second time in the past 10 years that Hendricks Power has increased residential rates. With this update, residential members can expect an average increase of approximately 4%, on their May statements, assuming energy use remains the same.

Strategies to Help You Save
• Track daily and hourly usage with the SmartHub app.
• Schedule a complimentary home energy audit or call (317) 745-5473.
• Visit hendrickspower.com/rate-update to use HPC’s online residential rate calculator to see what your bill will look like, or where you could save energy.

As a not-for-profit, member-owned cooperative, our focus is simple: reliable power at the lowest possible cost for the members we serve. We appreciate the trust you place in us and remain committed to supporting our community every day.