Adams Electric Cooperative has committed to keeping rates the same through 2022.

Hearing other electric utilities are raising rates quarterly has increased concerns among Adams Electric members, leading to many member calls and questions. While rates will be reassessed in late 2022 for a possible rate adjustment in 2023, the current rate members pay for power will remain unchanged through the end of the year.

“The cooperative is able to lock-in rates because we have a different business model than other local electric companies,” says CEO/General Manager Steve Rasmussen. “The co-op’s Board of Directors sets rates once a year, in comparison to an investor-owned utility which might change their rates once a quarter.”

Adams Electric, and 13 other PA/NJ electric distribution cooperatives, own Allegheny Electric Cooperative. Allegheny, in turn, owns approximately 65 percent of its power supply with its sole mission of providing that power to Adams Electric and the other owner co-ops. The remaining 35 percent comes from negotiated power contracts that are locked-in prior to each new year based on the 14 cooperatives’ projected power needs.

“The goal of the cooperative business model is not to turn a profit,” says Rasmussen. “We’re here to provide reliable power at competitive rates and to improve the quality of life for our members. Stable rates help to provide that consistent quality of life.”

For more information about Adams Electric Cooperative and the cooperative business model, visit adamsec.coop.

Adams Electric Cooperative is a not-for-profit, member-owned electric distribution utility serving 33,500 member-accounts in Adams, Cumberland, Franklin, Perry and York counties. Adams Electric is an equal opportunity provider and employer