The Sioux Valley Energy Board of Directors recently approved an overall average rate increase of 9.1% to the membership. This number is the average of all rates so some members will see higher increases, and some will see less. The main driver of this increase is higher power supply costs.
Sioux Valley Energy’s membership is growing and we expect that growth to continue for years to come. In fact, we are forecasting that our membership and corresponding electric demand will nearly double over the next 25 years.
Sioux Valley Energy is one of many electric utilities throughout the nation that are facing increasing rate pressures this year and likely into future years.
It’s hard to believe that the summer months are winding down and we are gearing up for all the typical Fall “things” like the start of school, harvest, football season, and my favorite—wrapping up road construction!
