Rate changes explained
IFP’s rates will change slightly for the coming fiscal year under the budget plan the City Council approved on August 23, 2016.
The biggest change is the lowering of the Power Cost Adjustment (PCA) for all customer classes to $0, effective Oct. 1. The PCA for the current fiscal year is .043 cents per kilowatt-hour used for residential customers and .042 cents/kwh for commercial customers. The change means residential customers will pay 5.78 cents/kwh and commercial customers will pay 3.5 cents/kwh used. Go here for more information about the PCA.
Residential customers will also see a slight increase in the monthly service charge, from $15 to $16. The service charge is intended to cover the utility’s fixed costs – poles, wires, transformers, etc. – while the energy rate covers the variable costs associated with electricity use throughout the city.
The other changes apply to commercial and industrial customers.
For commercial customers, the Demand rate will rise from $6.25 per kilowatt to $7.25/KW. The Demand charge is equivalent to the service charge for residential customers and is based upon peak usage, or the demand on the power delivery system imposed by the business.
The Demand rate will also increase for both industrial classes – small and large – from $6.50 to $7. Please call us at 612-8430 if you have any questions about these changes.
Changes coming to utility bills, new ways to pay too
As the City transitions to new utility billing software, IFP will soon be offering a host of new options for paying your utility bill.
In addition to the existing payment options – by mail, in-person, online and auto payment, plus the drop box at City Hall – you’ll be able to register for Paperless Billing, Budget Billing, Pay by Phone and Auto Payment.
You’ll also be able to check on your account and change the way you pay with the Customer Self-Service Web Portal.
Registration for these new options will be available this October.
Check back here for videos walking you through the portal and for answers to frequently asked questions regarding the new payment methods and the new appearance of your utility bill, which will also be unveiled in October.