Inland Power is my cooperative!
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10110 W Hallett Rd. Spokane, WA 99224 MAIN OFFICE
(509) 747-7151 TOLL FREE
(800) 747-7151 BILLING QUESTIONS
(509) 789-4277 PAYMENT SERVICES
(855) 386-9903 ENERGY CONSERVATION AND REBATES
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inlandpower@inlandpower.com SOCIAL
@inlandpower @inlandpowerlight
September 2021
inside... SAFETY Back to school
YOUR CO OPERATIVE New look for your website
Same site, fresh look. C
hange is inevitable. While some may see change as either a fear or challenge, it can also solve problems, refresh the old and make improvements. At Inland Power, we strive to be on the cutting edge of technology and push the envelope when it comes to being innovative. We are excited to announce that we have launched our new website. You can still find the same information and tools as our old website, but we have worked to make the site more user friendly and provide information in a more organized format. Our site’s facelift also features our commonly used features on our home page so you can find information easier. In addition to an easier visitor experience, we have featured more information regarding your account. Whether you are a
residential or commercial member, you can access all the information you need about your account, availabile resources and much more! You can find this information located under the “Your Account” tab on our home page. See image below.
ENERGY EV charging
Capital Credits Returning your money to you.
Y
Check out our site’s new look and features at inlandpower.com today! Have questions? Contact our member services department at 509-747-7151.
ou own Inland Power, which operates on a not-for-profit basis as a cooperative. Our sole purpose is to deliver safe and reliable power to you at cost. All revenue exceeding the cost to provide electric service is allocated back to you in the form of capital credits. Once allocated, your capital credits are held by the cooperative as a resource to replace aging infrastructure, maintain reliability and operate your cooperative. This capital credit system keeps your rates low and your service reliable. The amount of capital credits you are allocated each year is based on how much electricity you used during the previous year. In time, you will have all your allocated capital credits returned to you. The cooperative’s board of trustees retires capital credits when finances allow, often on an annual basis. Portions of all vintage years are retired each fall and may take up to 35 years to
return all vintage year allocations to you.
2020 Allocation Starting in 2017, the board of trustees voted to allow members to receive their capital credit allocation payment early, but it must be equitable with those who wait for up to 35 years. In other words, $1 today is not the same as it will be 35 years from now. Therefore, any early payment must be discounted or reduced to a level that makes it equivalent to those members on a 35year capital credit rotation. See inside for further explanaition. The 2020 discounted capital credit payout will be applied as a credit to your November bill. Any member who wishes to opt-out of the discounted payout program may submit their request by Sept. 30, 2021 by returning the “Opt-Out Stub” found on our website at inlandpower.com.
By switching to the discounted payout method, members can participate in the benefit of being a cooperative member without having to wait 35 years for the full benefit of capital credits.
1996-2017 Vintage Year Allocation For those members who have unpaid capital credits from years prior to 2017, or who opt-out of the discounted program and have current year capital credits, their capital credits will continue to be retired at the regular interval and paid to you as the board of trustees approves the payments every year. Please continue to look for your capital credit checks from vintage years which are typically mailed each December. If you have any questions, please visit inlandpower.com or call our member services department at (509) 789-4277. Continued inside
OUR
mission
IS OUR
members.
– M I S S I O N S TAT E M E N T
Back to school safety
Continued from front page
As kids head back to school, nothing is more important than making sure they get there and back home again safely.
Time Value of Money
As drivers, taking extra precautions around school zones and buses is critical. If you have kids in school, it’s also important to make sure they’re traveling safely.
To calculate the time value of money, we need to evaluate several factors. An example would be $100 a year from today, discounted back at 5%, is worth $95.24 today. Please see the example below. Today
Year 1
$95.24
Year 2
$90.70
Year 1
Year 2
Year 35
$100 (1 + 5%)1 year
$100 (1 + 5%)2 years
$100 (1 + 5%)35 years
Year 35 $18.13
Even still, Inland Power is offering members $22 for every $100 instead of the $18.13 calculated above! In applying this example to Inland Power, the discount period is 35 years. With a $100 capital credit allocation from Inland Power being worth $22 today. If you were to invest that $22 today in a conservative S&P 500 index fund for 35 years earning 5%, your investment would most likely be worth $121.35 as shown below:
$22 X (1.05)35 YEARS = $121.35 Either way - you win - Owning your own utility does have its advantages.
Observing the lower speed limits in school zones provides more time to process information and avoid collisions with children. Extra caution is also warranted anytime a school bus is nearby. Never pass a bus stopped to load or unload children unless you’re on the other side of a divided road and leave plenty of space for kids to safely enter and exit the bus. Finally, avoid distractions such as cell phones. Distracted driving is extremely dangerous anytime, but even more so when kids are around.
I
magine never having to stop at a gas station again – and instead, having an unlimited supply of fuel available at home or wherever you normally park your car. For many electric vehicle (EV) drivers, this is a reality. Battery electric vehicles never need gas, and for short trips, plug–in hybrids might use no gas.
range would cost less than two cents per mile – or about $2.72 to fully charge. Meanwhile, fueling a 25-mpg gas vehicle at an average gas price of $3.11 per gallon would cost about 12.44¢ (cents) per mile or about $18.66 for enough gas to drive approximately 150 miles.
EV charging is simple, cost–effective, clean and convenient, particularly when you are plugged in at home – filling up your car, even while you’re asleep.
Public Charging
There are three categories of EV charging: Level One, Level Two and DC fast charging. Levels One and Two charging use a universal connector that can be plugged into any EV. DC fast charging uses three different connector systems called CHAdeMO, CCS Combo and Tesla Supercharger.
These stations can be free, pay–as– you–go or subscription-based, and prices are set by networks or property owners. Some vehicle manufacturers, such as Hyundai, Nissan and Tesla also provide complimentary public charging.
Although EV drivers primarily charge at home, workplace and public chargers are increasingly becoming available in communities nationwide.
While charging at home is generally preferred, many people also charge their EV at public charging stations.
Home Charging Inland Power’s residential rate is 6.8¢ (cents) per kilowatt hour (kWh). At this price point, charging a 40-kWh battery with a 150-mile
VISIT INLANDPOWER.COM FOR MORE ENERGY EFFICIENCY TIPS
Whether your child walks, rides or takes the bus to school, there are a few things they should know to stay safe. If walking, use the sidewalk where available and if not walking face traffic and pay attention. When crossing streets, be sure your kids make a habit of looking left, right, and left again. Also, try to make eye contact with drivers and only cross at crosswalks or intersections. If riding a bike to school, kids should ride single file on the right side of the road, avoid distractions and stop to walk bikes across the street. Of course, a properly fitted helmet is also a must! Finally, kids riding the bus should always stand back from the road’s edge when being picked up. If your child must cross the street in front of the bus, teach them to cross at least 10 feet in front of the bus where they can always see the driver. Use these tips for yourself and teach them to your kids to help make sure all the children in our communities have a safe and happy return to school this fall!