Rate Increase Topic at Annual Meeting
Heavy rain and fierce winds welcomed the 79th Nolin RECC annual meeting just about the time member registration opened at John Hardin High School on June 23. Although attendance was down, we still registered 705 members and the meeting was a success with an estimated crowd of 2,500.
Nolin RECC President and CEO Mickey Miller discusses the rate increase during the business session at the annual meeting. Pictured in the background are board members (left to right) David Brown, Buddy Rosenberger, Gene Straney, and Lawrence Ireland.
If you’ve ever been to Nolin’s annual meeting, you already know the importance of the business session. One topic that always makes the agenda relates to the increasing cost of energy. Ironically, just two days prior to Nolin’s annual meeting the Kentucky Public Service Commission (PSC) approved a rate increase for Nolin RECC members.
It’s remarkable that this increase is only the third one we’ve experienced in nearly 40 years, which serves to prove Nolin works very hard to hold rates steady while the cost of living continues to increase. We operate your cooperative with your best interests in mind, and we are always reluctant to raise rates unless it is absolutely necessary.
It’s been 10 years since we had an increase in rates. In fact, Nolin actually decreased our base rates in 1990! This is an incredible record and one that we are extremely proud to claim, but we can’t avoid delaying a rate increase any longer.
The PSC approved an 11.4 percent increase for residential electric usage which went into effect June 21st. Members began seeing a portion of this increase on their July bill statement. The increase will add about $12 a month to the average residential electric bill which includes a $4.46 increase in the member cost of service charge.
Nolin has an excellent reputation of being one of the best places to work in this community. In addition, we strive to put our members’ needs first and our employees work hard to take good care of your cooperative. We have implemented several changes to reduce our operating expenses and have tightened our belts to decrease budgets in every department. These changes coupled with the slight rate increase will hopefully see us through for several years before we are forced to make additional changes to our rate structure.
Although the rate increase was on the list of important matters during the business portion of the annual meeting, members attending were treated to our usual activities which included buckets and bulbs, entertainment, and prizes. Thanks to everyone who attended the annual meeting!