Commercial accounts in Milford can expect an increase ranging from about 2.3 to 3.0%, depending on demand, load factor, seasonality and time of use. Photo by Anthony Indraus/Unsplash.
Starting in June, electric bills for the average residential and small business accounts in Milford are going up 2.4%, the city has announced.
Commercial accounts in Milford can expect an increase ranging from about 2.3 to 3.0%, depending on demand, load factor, seasonality and time of use.
“The power cost increase is entirely due to market-driven capacity cost increases that impact all electric users on the Delmarva Peninsula,” the city’s announcement said.
Milford, a community electric utility powered by the Delaware Municipal Electric Corp., will increase the current power cost adjustment by $0.00353 per kilowatt-hour to $0.02477 per kWh for energy usage beginning in June.
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“DEMEC strives to represent the city of Milford and all public power cities and towns in Delaware with rate stability and cost control at the forefront of its goals,” Finance Director Lou Vitola said, “but the auction-based market for capacity is unpredictable. Fortunately, DEMEC has physical hedges in place that helped cut the rate impact of the auction results nearly in half.”
To help offset this increase, the city encourages customers to utilize Efficiency Smart for rebates and an electric usage monitor, insulating windows, purchasing a water heater jacket, utilizing the city’s budget plan and servicing their HVAC system. Reducing household energy consumption by about 6 kWh per day will completely offset the cumulative effect of all wholesale power costs passed through since 2020.
Questions regarding utility billing or the upcoming power cost adjustment can be directed to the city’s customer service department at 302-422-6616.
DEMEC also serves Newark, New Castle, Middletown, Clayton, Smyrna, Lewes and Seaford.
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