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Oct 30, 2009 - Rate Changes Result in Overall Winter Decrease

The Co-op Board of Directors has approved a number of changes to the rates and charges you pay for electric service. Below is a review of those changes, as well as a discussion of other measures NHEC is taking to meet the economic challenges of the times.

Co-op Power

Effective November 1, 2009, the Co-op Power line item on your bill (the price you pay for our purchases of electricity from generators and wholesale suppliers) decreased 8.2%. This decrease is the result of expected lower energy costs during the upcoming winter period. Wholesale electricity is generally more expensive in winter due to New England’s heavy reliance on natural gas for both electricity and heating fuel. However, the nation enters this winter with a record amount of natural gas available in storage. Strong gas production and weak demand due to mild weather, and the recession are holding gas prices for this winter down. NHEC does not make a profit on the costs of wholesale generation and electricity purchases – we charge our members only what it costs us to purchase power.

Regional Access Charge

Effective November 1, 2009, the Regional Access Charge increased 2.8% for a basic residential member. Some of the costs this charge recovers are set by the Federal Energy Regulatory Commission and cover the Co-op’s share of the cost to build and operate the regional transmission system that gets power from generators to your home or business. Several billion dollars worth of improvements are currently underway on the New England transmission grid, aimed at improving overall reliability of the transmission grid and relieving transmission bottlenecks in locations such as the southern Connecticut and Boston metro areas. Some of the reliability improvements have occurred in New Hampshire as well, aimed at relieving congestion on the system between northern and southern New England.

Member Service Charge

Effective November 1, 2009, the Member Service Charge increased 7% to $21.41 per month. The Member Service Charge is a flat fee that is meant to recover most of the fixed costs to operate our distribution system. Whether you use no energy or 1,000 kilowatt-hours, there is a fixed cost associated with maintaining the poles, wires and meters that provide you with access to electricity. Earlier this summer, NHEC completed a Cost of Service study that showed the average cost to serve one member, without the sales of kilowatt-hours, is $37.25 per month. In order to keep rates as affordable and equitable as possible, NHEC does not seek to recover that entire cost through the Member Service Charge. The Delivery Charge portion of your bill, a per-kilowatt hour charge, is the other charge by which NHEC recovers the cost to provide service.

The Bottom Line

As a result of these changes described above, the typical residential member using 500 kWh per month will see an overall bill decrease of 2.3% effective November 1, 2009.

Cutting Costs

Rate changes alone are not enough to provide for the long-term sustainability of the Co-op during this prolonged period of declining kilowatt-hour sales and growth in new members. The Board of Directors has made the difficult decision to eliminate positions, freeze new hiring, reduce benefits and eliminate programs that are not essential to the core business of the company. These decisions have been made necessary in part by the sluggish economy, but also by unexpected and unprecedented increases in the cost of benefits. Fortunately, NHEC entered these hard times on solid financial footing and, with the changes outlined, can weather this downturn. We all hope for better times but are making the decisions necessary to ensure the Co-op remains viable

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