Savings for Our Members
A utility operating under the cooperative model – a not-for-profit entity – exists to provide its members with a key service at cost, taking little to no profit. Mohave Electric Cooperative has been serving its members strong for 75 years, and unlike most items over time, the cost of our electricity has stayed relatively the same for the past seventy-five years, equating to an additional $.05 per month per year. These stable, low cost prices are unheard of in a utility!
Successful efforts this year in the wholesale purchase power market have allowed Mohave Electric Cooperative the opportunity to purchase power at a lower cost than anticipated. Additionally, to avoid cost increases, MEC asked members to conserve power so that members were not faced with high market prices or forced rolling outages. The efforts from members and our transmission energy purchases throughout the year have led to fantastic results. The savings MEC worked diligently to secure is directly passed on to our members in the Purchased Power Adjuster and is printed on every members’ monthly bill. “As a not-for-profit utility, MEC makes every effort to save its members money by negotiating for the most reliable, yet affordable power prices possible” said Tyler Carlson, CEO of MEC. Below is an attached image of our bill format and boxed in green is the PPA adjustment, which reflects the current MEC savings / credits for 2021.
On December 17, 2020, the MEC Board of Directors approved passing the savings in the Purchased Power Adjuster (PPA) in the form of credits from the current (2020) factor of - $0.0075 per kWh sold to a factor of - $0.0125 per kWh sold, and went in to effect on February 1, 2021. The difference is an additional $4.25 savings (based off 950 kWh residential average usage)!
Because MEC is a not-for-profit, energy costs, whether high or low, are passed onto our members. MEC strives to purchase power for the lowest cost while still providing reliable services. This is one of the perks of receiving power from a business that follows the cooperative model. “In a world of ever-inflating product margins, MEC is proud to continue to provide service with less than 1.2 times the energy cost for the past 75 years” Carlson says.
For more information on how MEC is working to save our members money or questions regarding the PPA, find our website at mohaveelectric.com or stop by or Member Services Office located at 928 Hancock Rd. in Bullhead City, Arizona. Members can also call 928-763-1100 with questions or concerns.