In wake of the historic winter storms, many Texans have seen highly inflated electric bills. Trinity Valley Electric Cooperative plans to continue its trend of saving members money each month.
The Power Cost Recovery Factor (PCRF) is the formula used to adjust your electric bill to reflect increases or decreases in the cost of electricity TVEC purchases from its wholesale power supplier for distribution to its members. For a little over a year, TVEC energy costs have been relatively low and those savings have been passed on to members.
In 20 of the last 24 months, TVEC members have received half-cent to one-half-cent per kilowatt-hour credit. According to TVEC’s website, the cooperative plans to continue this trend.
For March bills, a two-cent PCRF credit will be issued. This is the largest PCRF credit issued by TVEC since June of 2013, according to the co-op’s web page.
“We hope this gives some relief for the high bills that will result from the elevated energy usage during this unprecedented cold weather event,” TVEC stated on their website.
Power costs make up nearly 70% of the co-op’s annual costs.
“It will be important to carefully consider all possibilities in absorbing the impact and doing the best we can for members who have already suffered through such a difficult experience,” stated the website.