ILP Utility Board Approves Electric Rate Decrease for Residential Customers
January 23, 2020 – Independence Light and Power Board of Trustees approved a 6.94% rate decrease for residential customers at its January 23 meeting. The 6.94% rate decrease is the result of lowering the residential energy rate from $.11533/kWh to $.10733/kWh. On average, Independence Light and Power residential customers consume 667 kWh each month. The 6.94% rate reduction will equate to about $5.33 in savings per month.
The approved rate reduction marks the third time Independence Light and Power has decreased residential energy rates since 2013. Prior to the first rate reduction in 2013, the residential rate was $.1498/kWh. Since then, the average residential customer has seen their monthly electric utility bill decrease by 19.23%. In 2012, the average consumption of 667 kWh would have resulted in a monthly bill of $113.42 (including the monthly service charge). With the latest rate reduction, that same 667 kWh consumption will now cost residential customers $91.59, a decrease of $21.82 from 2012.
“For the past several years our core mission has been to provide the best service at the lowest possible price,” said Kevin Sidles, General Manager of Independence Light & Power. “This latest rate reduction is a direct result of the hard work and commitment by our employees and board member to fulfill that mission. We are pleased to implement the new rate effective immediately.”
Independence Light & Power is a locally owned, not-for-profit electric and telecommunications utility, serving residents and businesses in Independence, Iowa. They are one of 51 public power utilities that are member-owners of wholesale power provider and joint action agency WPPI Energy.