"Our power supplier, PowerSouth, has projected a decrease in the wholesale price of power for the remainder of the year, and, if that happens, we plan to pass that savings on to our customers" Pioneer General Manager, Steve Harmon, said.
Pioneer customers saw increases last year as coal and natural gas prices surged. "The wholesale cost of power that we have to pay is almost 60% of our rates, so when those prices rise, we have to raise our prices. At the same time, when those prices go down, our members should get the benefit of the decrease," Harmon said.
Pioneer is also looking at restructuring its rates and adjusting the monthly minimum required payments. "We've recently undergone a complete review of our rate structure and we're looking at ways to make our system less dependent on swings in temperature to meet our budgetary requirements. As a cooperative, it's important that our rates are fair to each rate class, and that we are good stewards of our member/owner's investment in the cooperative," according to Harmon.