February
2005
WEMC
Rates to Remain Stable
No
increases in foreseeable future
Is
Walton EMC about to raise your electric rates?
Frequent
news reports of other Georgia electric providers asking regulators
to allow a price increase may make you wonder. But don't worry.
“Walton
EMC's rates should remain stable for the next several years,” said
CEO Ronnie Lee. “Our innovative power agreement with Williams Energy
is helping us hold the line on power costs.”
The
last time Walton EMC changed its rates was in 1997. And that was
a rate decrease, not increase.
The
power contracts that Walton EMC operates under since the late ‘80s
began expiring in recent years, with the last expiring this year.
“We
began preparing eight to 10 years ago for what's happening right
now,” continues Lee. “We saw in the mid and late ‘90s that we needed
to think differently if we were going to keep our rates low in a
changing industry. We knew the next wholesale power contract wouldn't
be as good as the current one.”
That's
when Lee and WEMC's management began exploring new ways of buying
electric power. Re-organization of the power supply cooperative
owned by 39 Georgia EMCs, including Walton, also helped to keep
a competitive edge.
Recent
new ventures, like EMC Security, the Doyle Generating Plant and
Walton EMC Natural Gas have also enhanced WEMC's ability to keep
electric rates low.
“I'm
often asked by people who don't understand cooperatives why we worry
so much about rates since our customers don't have a choice,” said
Lee. “I get the opportunity to explain that our customers own Walton
EMC and the only reason we exist is to serve them.”
Read
other articles in this month's Realite:
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