This month you may notice an additional "SHARED POWER" charge or credit on your monthly billing statement from your Cooperative. This charge, if there is any, is your annual deficiency payment for 2020. The Shared Power program was designed years ago for member-owners with larger than normal electric usage during only one or two months of the year (seasonal loads). The charge for Shared Power is calculated at 20 percent of your transformer's potential rated output as if it were fully loaded throughout the year.
To assure a fair recovery of the cost of providing service to these seasonal load facilities, a minimum number of kilowatt-hours must be used during the year. If a seasonal account falls short of the requirement, a Shared Power charge will be applied at year end for the deficient kilowatt-hours. The difference between the annual minimum and the actual usage is multiplied by 2 cents per kWh.
Please not, your Cooperative has two methods of payment available: Lump sum or a predetermined monthly average prepayment that reduces the total potential annual deficiency balance.
If you would like to enroll in the monthly option, have an on-site farm analysis, or have significantly changed your electric usage by removing your seasonal electric fans or motors, please call Iowa Lakes Electric Cooperative at 800-225-4532 for a review of your account.