MidSouth to lower electric prices for May, June

Press Reports
Posted 4/21/20

MidSouth Electric Co-op, which operates electric service to parts of Madison County and six other counties in the region, said Monday that members would receive a bill credit, lowering May and June payments.

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MidSouth to lower electric prices for May, June

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MidSouth Electric Co-op, which operates electric service to parts of Madison County and six other counties in the region, said Monday that members would receive a bill credit, lowering May and June payments.

In a press release Monday, the cooperative said it will discount bills three cents per kilowatt hours consumed, pushing an average bill of 1,500 kWh down by $45. The Kilowatt Relief program will replace normal Captial Credits.

“To immediately relieve financial hardship and help members more efficiently, the MidSouth Electric Co-op Board of Directors has decided to provide Kilowatt Relief in lieu of Capital Credits in 2020,” the organization said in the release “The decision to replace Capital Credits with Kilowatt Relief was made carefully and strategically with the best interest of consumers in mind.

“This decision by the board of directors provide members with immediate financial assistance during the COVID-19 crisis. This will ultimately result in more money credited to member accounts than through Capital Credits.”

MidSouth said the program will result in relief of $4 million. Members will see the credit on their billing statements in the Wholesale Power Cost Adjustment line item.

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