Kankakee Valley REMC doesn't operate power plants. Instead, we purchase the electricity we deliver to you from what's known as the wholesale electricity market. As electric generation shifts from coal to sources like renewables and natural gas, we've seen decreases in generation costs. Most residential member-consumers have been using less electricity, thanks to more energy-efficient appliances and lighting, and the strong economy means commercial and industrial member-consumers have been using more.
From time to time, we conduct rate studies to compare the rates we charge to the cost of buying and delivering that electricity. As a non-profit cooperative, our goal is to be revenue-neutral, collecting only as much as we need to cover our costs.
We just conducted a rate study and determined that there was no need to increase our rates to residential member-consumers. Our commercial and industrial member-consumers may see slight increases that reflect their increased demand for power and the infrastructure improvements needed to provide that load. Rest assured that we'll continue to monitor rates to ensure we give our entire membership the greatest value for their dollar.