East River Electric’s Average Rate Falls for Third Straight Year
East River Electric’s average wholesale rate fell for the third straight year in 2020. The rate includes all of the costs that go into providing power to its members and is averaged out among all rate classes. The average rate in 2017 was $0.0645 cents per kilowatt hour delivered. In 2018, the rate went down to $0.06185 cents, and kept the downward trend in 2019 averaging $0.06164 cents. Through the end of December 2020, the average rate was $0.06093. In 2021, East River's average residential rate to our members is currently $0.05939. This downward trend can be attributed to many factors, but one fact remains: East River Electric controls its costs and works to ensure our member systems are receiving quality service and reliable electricity for the most affordable cost.