▶ Is Loup increasing electricity rates in 2023?
Yes. The Loup Power District Board of Director’s approved an overall 1.6 percent rate increase for retail customers. The rate increase varies by customer class and is based upon a review of a cost-of-service study performed by District management. This rate increase will take effect on February 1, 2023.
▶ How much more will I pay for my electricity in 2023?
The average residential customer will pay an additional $21.41 (1.36 percent) annually for electricity in 2023.
▶ Why are rates increasing?
Loup Power District has not raised rates for five years. The increase is needed to help offset increasing purchased power costs as well as the rising costs of materials due to inflation and supply chain issues.
The increase will also allow the District to maintain and update infrastructure to ensure continued reliability for our customers.
▶ How do these rates compare to those at other utilities?
Loup’s overall rates are 24.8 percent below the national average and 8.1 percent below the Nebraska average based on data from a 2020 American Public Power Association survey. This places Loup in the lowest tenth percentile both statewide and nationally.
▶ How can I reduce my energy bill?
There are many adjustments you can make to lower your bill. Space heating and cooling typically accounts for a large portion of your electricity costs — adjusting your thermostat up or down can often make a difference in the cost. You should also check for air leaks around your doors and windows.
We also have tools to help you learn where your energy dollars are going. They include a virtual energy assessment of your home where you can learn how insulation, thermostat settings, appliances, and lighting all affect your energy costs. Learn more HERE.
If you feel that your bills are unusually high, please contact Greg Badstieber at 562-5718.
▶ Does Loup have incentives if I want to make energy-efficiency upgrades?
Yes. We have a wide rate of EnergyWise incentives and rebates designed to help you save energy and money. You can find information about them HERE.
▶ Loup is a public power utility. What does that mean?
Public power utilities are:
- Not for profit
- Locally controlled
Affordable — On a national average, public power rates are lower than those of other utility companies. That’s because local, not-for-profit utilities have the power to put their neighbors first. Keeping energy costs affordable serves every community’s long-term needs, and that’s what public power is all about.
Local Control — Public power utilities can be an economic boom to smaller communities. Local payments made in lieu of taxes help lower everyone’s tax burden, and utility revenues get reinvested in programs and services that best suit local values and needs. Local public power utilities also create jobs. And since their office staff, customer service representatives and field crews are local residents, they’re able to provide the most reliable, responsive service.
Reliable — Outside of major adverse events (e.g., storms), customers of a public power utility are likely to be without power for less time compared to customers of private utilities. Public power utilities employ local residents who are able provide the most reliable, responsive service.