Palmetto Electric announces rate adjustments

info@islandpacket.comDecember 11, 2013 

Palmetto Electric Cooperative has announced rate adjustments, including a $1 increase in the facility charge and a new rate to encourage off-peak consumption.

A fee applied to each meter to pay for maintenance, plant upkeep and other operations costs, the facility charge will increase from $16 to $17. The increase will apply to residential and small commercial accounts, according to a news release.

Palmetto Electric also announced a new "time of use" rate as an alternative for residential consumers to encourage off-peak electricity use.

The new rate will provide savings to consumers shifting their usage away from peak periods, like warm afternoons and cold mornings, the release said.

Palmetto Electric will also shift about "one half cent from the power cost adjustment factor into its base rates," the release said.

"This change will be revenue-neutral and will not impact the actual charge for electricity consumed," CEO G. Thomas Upshaw said. "Palmetto Electric's rates remain among the lowest in South Carolina."

Details: www.palmetto.coop

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