PERRY CO., Ind. (WFIE) - Tell City residents may see their electric bills increase this year.
The last electric hike the city saw was back in 2017.
After the city had a cost of service study done they decided to look at the rates every two to three years.
This year, the study showed the need for an increase by adding nearly $11 a month to the average bill.
So why the increase?
We are told Tell City Electric spends 87 percent of its revenue on purchasing power. That leaves them with only 13 percent of their income to do daily repairs and needs.
Even with the increase, Tell City Electric Superintendent Dennis Dixon tells us they still have some of the lowest rates in the region.
But will there be another hike 2 or 3 years from now?
“That’s hard to say, you know it’s a possibility, and sometimes it does, there’s a possibility it could go down, it just depends on the expenses, the revenue we’re bringing in, any storms come through, stuff like that,” explains Dixon.
The new cost for Tell City Electricity will go into effect on February 1.