COURIER The Kilowatt
January 2021
TAKE OWNERSHIP IN YOUR COOPERATIVE & SERVE ON THE HEA BOARD OF DIRECTORS
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here is an opportunity each year for Homer Electric Association (HEA) members to make a difference and participate in their cooperative by serving on the HEA Board of Directors. The nomination period will open January 20, 2021 for members interested in serving on the cooperative's Board of Directors. Candidacy packets are available later this month on HEA's website and in both HEA offices.
Director Qualifications for Candidacy
• Must be a "bona fide resident," which means a person whose primary residence is within HEA's service area. • Must be a bona fide resident for at least twelve (12) months preceding the date which is forty-five (45) days prior to the meeting of the members. • Lastly, candidates must obtain at least fifteen (15) member signatures within their district for official nomination included in their candidate application. The nomination period will remain open until 5:00 p.m. on March 5, 2021, when completed candidate applications are due. Election ballots will be mailed to the membership on April 5, 2021 and election results will be announced 22022004 at HEA's Virtual Annual Meeting of the Members on May 6, 2021 which starts at 6:00 p.m. If you have any questions about the nomination or election process, contact Bruce Shelley at (907) 283-2324.
COMMITMENT TO COMMUNITY: 2021 SCHOLARSHIPS
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omer Electric is committed to our community – one of the cooperative principles that sets us apart from other businesses. Your cooperative values education and proudly awards academic or vocational scholarships each year. The scholarships are available for students of all ages – both graduating seniors and adults who wish to continue their education. Applications are available 60445001 on the HEA website at www.homerelectric. com, at your high school's Guidance Counselor's office, and at HEA offices in Kenai and Homer. The deadline to submit scholarship applications is Monday, March 1, 2021, by 5:00 p.m. If you have questions, please contact Tanya Lautaret at (907) 283-2305 or email tlautaret@homerelectric.com.
Kilowatt Courier is a monthly online publication by Homer Electric Association, Inc.
COST OF POWER ADJUSTMENT RATE INCREASE IN 2021
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HIDDEN omer Electric Association members will likely see a minimal increase in their monthly ACCOUNT NUMBERS bills beginning January 1, 2021, if the filing with the Regulatory Commission of Alaska (RCA) is approved. In December, HEA submitted a Cost of Power Adjustment (COPA) to the Three randomly chosen italicized account numbers are hidden RCA. The COPA is adjusted on a quarterly basis and mostly reflects the cost of natural gas in the Kilowatt Courier. used to generate power for HEA members. If you find YOUR account number, call The COPA rate for the first quarter of 2021 is calculated to go from the current rate of 235-3338 and you'll receive a $50 $0.08067 to $0.08432 per kilowatt hour. The COPA change will result in a slight increase of credit which will be reflected on $2.01 in the monthly bill for the average residential HEA member using 550 kilowatt hours your next bill. Thanks for per month. Pending approval from the Regulatory Commission of Alaska, the rate changes are reading! scheduled to 64343001 be in effect as of January 1, 2021.
CURRENT RESIDENTIAL RATES As of January 1, 2021
All Residential Customers Energy charge = 16.077 cents/kWh Customer charge = $20.00 System delivery charge = $24.12* (*If usage is less than 150 kWh)
Cost of Power Adjustment (COPA) 8.43 cents per kWh* (*Subject to change on a quarterly basis and upon RCA approval.)
See www.homerelectric.com for the latest residential and commercial rates.
BOARD of DIRECTORS & MANAGER Dan Chay, President (907) 283-9227 David B. Thomas, Vice President (907) 252-2954 Erin McKittrick, Sec./Treasurer (907) 290-6994 Ed Oberts, Deputy Secretary (907) 398-8039 Dave Carey, Director (907) 260-6413 Roy Champagne, Director (907) 299-8499 Jim Duffield, Director (907) 283-2203 Jim Levine, Director (907) 299-0323 Charles "C.O." Rudstrom, Director (907 ) 420-7124 Brad Janorschke, General Manager (907) 283-2312
MONTHLY FINANCIAL UPDATE
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omer Electric finished the month of October 2020 with a total asset base of $255.6 million. Operating revenue to date was $86.4 million and total costs were $83.4 million, bringing net operating margins to $3.0 million through October 31, 2020. This chart is a breakdown of key financial indicators comparing October 2019 to October 2020. Year to Date Operating Revenue Cost of Purchased Power
October 31, 2020 $86.4 million $54.3 million
October 31, 2019 $78.9 million $48.1 million
Cost of Electric Service Operating Margins
$29.1 million
$28.2 million
$3.0 million
$2.6 million
Total Kilowatt Hours Sold Total Number of Meters
368.8 million
367.7 million
35,586
35,276
JANUARY 2021 KILOWATT COURIER Homer Electric Association, Inc. 3977 Lake Street Homer, AK 99603 (907) 235-8551 (800) 478-8551 280 Airport Way Kenai, AK 99611 (907) 283-5831 www.homerelectric.com