News

Loup Power to keep same rates for 2020

Retail rates for Loup Power District’s retail customers will remain the same in 2020 for the third consecutive year.
The Loup Board of Directors reviewed current rates, as well as budgeted revenue and expenses, at the November and December board meetings. As part of this review, the board analyzed the purchased power costs from Nebraska Public Power District (NPPD), the district’s wholesale power supplier.
NPPD’s overall costs and rates to Loup did not change for 2020. Therefore, the Loup board determined there was no need to change retail rates.
“In the past, the district has reacted to changes in wholesale power and operational costs by making changes to the retail rates,” said Jim Donoghue, chairman of Loup’s Rates Committee. “However, the District Board has worked with management to keep retail rate levels steady for 2020.”
Donoghue added that Loup’s board has implemented a long-term strategy to maintain its reserve margin at reasonable levels and keep retail rates competitive.  “Over the past several years, the district’s costs have shifted from the summer months to the winter months due to rate methodology shifts from NPPD,” he said.
Loup Power District’s overall rates were 25.7 percent below the national average and 12.4 percent below the Nebraska average based on data from a 2018 American Public Power Association survey.
“Loup’s rates remain among the lowest in Nebraska and the nation,” said Loup Board Chairman Larry Zach. Overall, Loup Power District’s rates are in the lowest tenth percentile both statewide and nationally.
Energy or kilowatt-hour (kWh) usage is always the determining factor in a customer’s bill.
Customers in all rate classifications continue to have opportunities to reduce their costs by taking advantage of numerous programs offered by the district.These programs include energy incentives and home energy audits. For more information on retail rates and energy-saving programs, visit the district’s website at www.loup.com