New Rates Approved
Stowe Electric Department is pleased to announce that it recently received approval from the Vermont Public Service Board for the new rates filed earlier this year. The rate redesign is based on a comprehensive study of the data collected by Stowe’s smart meters, the first of its kind in Vermont. Some key features are outlined below.
· Applies to October usage: The new rates will apply to all usage starting in October and will be reflected in regular billing starting in November.
· Revenue neutral: The new rate design is designed to be revenue neutral and SED will not collect more revenue from its customers than it did with the previous rates.
· Eliminate the Residential Demand Rate 06: Smart meter data supported doing away with this rate. All current Residential Demand customers will be automatically transferred to the new Residential General Rate 01.
· New Voluntary Time of Day rate for residential customers: A completely new rate which gives participating customers the opportunity to save money on their monthly bills by limiting their electric use during certain times of day. See the tariff sheet and the related handout for a more in-depth explanation of this new rate.
You can view all of the new rates here. Please give Stowe Electric a call at the office if you have any questions.