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.
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%, assuming energy use remains the same.
