By Nebraska Public Power District
COLUMBUS, Neb. - Nebraska Public Power District’s (NPPD) board of directors approved a 3 percent retail and 1 percent wholesale rate increase during November’s regularly scheduled meeting.
The average residential retail customer uses around 1,000 kilowatts of electricity a month, and based on this amount, would experience an increase of just over $5 per month.
“NPPD’s strong history of maintaining low rates has enabled existing customers to grow within the state and has attracted new industries looking to establish operations in Nebraska, driving economic growth across the communities we serve,” said NPPD President and CEO Tom Kent. “We continue to manage costs at a time when inflation, supply chain constraints and rising material, fleet, and facility expenses present challenges. Despite these pressures, our focus remains on delivering affordable, reliable energy and that commitment is reflected in how NPPD’s rates compare to peer utilities across the nation.”
NPPD benchmarks its retail rate using data from U.S. Energy Information Administration (EIA), who collected data from over 2,600 utilities across the nation. According to finalized EIA data for 2024, NPPD continues to meet the goal to maintain a total retail base rate position among the lowest 15 percent of providers, with the most recent ranking finishing in the lowest 6.5 percent.
NPPD benchmarks its wholesale rates, using a database maintained by the National Rural Utilities Cooperative Finance Corporation (CFC). The large group includes more than 800 electric utilities, across the nation, which purchase wholesale power. NPPD’s Board of Directors set a goal to remain in the lowest 25 percent and NPPD continues to meet that goal by finishing at the 12.5 percentile in the most recent rankings.
In addition, the NPPD Board of Directors has voted to provide approximately $30.8 million to wholesale customers, which will appear in the form of a Production Cost Adjustment (PCA) credit on wholesale customer bills. This is the eighth consecutive year that NPPD’s wholesale customers will receive a PCA credit.