Purchase Power Adjustment 2022
Over the past year, natural gas and purchased power prices have been extremely volatile and rose dramatically. GRICUA’s Purchase Power Adjustment component on customer bills can be used to recover unexpected changes in the cost of purchased power. During this unprecedented time, the GRICUA’s management team has monitored the changes in the cost of purchased power and chose to delay making changes during 2021 to the Purchase Power Adjustment. Currently, GRICUA’s rates are under recovering the cost of natural gas and purchased power by $0.00894 kWh or less than a penny per kWh. GRICUA increased its Purchase Power Adjustment starting February 1st, 2022, the Purchase Power Adjustment was changed to recover 30% of the $0.00894 kWh or $0.00268 kWh. GRICUA has continued to evaluate the cost of natural gas and purchased power and has determined the need to fully implement the Purchase Power Adjustment to the full $.00894. GRICUA has been monitoring the estimated summer gas prices and we anticipate an increase during the summer months. This additional change will increase a typical residential customer’s bill by 4.8% or $7.92 per month. To minimize the total impact to our residential customers, GRICUA’s Board will implement the additional charge in two phases at $0.00313 or $3.96 per phase. The first phase would be implemented on June 1st 2022 and the remaining phase would be August 1st 2022.