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Electric cooperative to increase rates 3.5 percent

Electric cooperative to increase rates 3.5 percent

January 14th, 2012 in News

Co-Mo Electric customers will see a 3.5 percent increase in rates, beginning April 1.

The increase was approved by the cooperative's board of directors at its December meeting. It is the first rate increase in three years, officials noted.

The rate increase equals about $4.16 a month for the average Co-Mo account. Specific rates for each rate class will be determined soon.

Company officials said part of the reason for the increase is the addition of a 540-megawatt natural gas plant in Pryor, Okla. It began serving Missouri cooperative members in mid-2011.