Paying only 2¢/kWh verses the Cooperative's average rate of 12¢/kWh
Member-Owners Operating Seasonal Loads
This month you may notice an additional "SHARED POWER" charge or credit on your monthly billing statement from Iowa Lakes Electric Cooperative. This charge, if there is any, is your annual deficiency payment for 2019. The Shared Power program is designed 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 (kWhs) must be used during the year. If an electric account falls short of the requirement, a Shared Power charge will be applied at year end for the deficient kWhs. For 2019, the difference between the annual minimum and the actual usage is multiplied by 2 cents per kWh instead of the average 12 cents.
Please not, your Cooperative has available two methods of payment: Lump sum or a predetermined monthly average prepayment which is then used to reduce your total potential annual deficiency balance. Please call Iowa Lakes Electric Cooperative if you would like to enroll in the monthly option for next year.
An on-site farm analysis by your local energy advisor is also available upon request. If you have any questions or have significantly changed your electric usage by removing your seasonal electric fans or motors, please call Iowa Lakes at 800-225-4532 for a free review of your account.