Now that summer is officially here, electricity rates are going up. Utility companies such as PSO traditionally charge higher "peak" rates during the summer, when people use more electricity. But as KOTV's Diane White explains, they could be even higher this summer.
When the lights go on, the meter starts running. Electricity rates go up during summer, because it's peak season for PSO. But this year they're soaring higher, as Wayne Bishop discovered when he opened his bill. "When you're used to getting bills for anywhere from $75 to $85 and then you get one for $106, well that catches your eye." He's on the monthly averaging program and his bills are rarely higher than $85. "This is the first time it's taken a jump like this and that's why I wondered what the reason was for that." One reason: PSO relies on natural gas to operate 60% of its plants. Although the cost of gas has dropped, it' s still much higher than it was last year. Ed Bettinger, PSO: "The net result very likely will be - as most customers will see - a higher summer bill." It's about 25% higher for Bishop. "They told us that in out particular home, based on our history of electric usage, we're probably going to see bills ranging from $91to $120." While Bishop knows he can pay the higher bill, he's worried about others who live on tight budgets, but PSO says it's willing to help. "We're always willing to work with our customers and we do every day to help them get their bills paid. We make payment arrangements all the time with customers."
If the cost of electricity is too high for you to handle, you can call PSO and talk to a customer service representative. They can help you come up with a plan to keep the lights on during the hot summer months. You can reach PSO customer service at 1-888-216-3523.