Local electric rates to increase in October

Benton County Electric System (BCES) has announced a rate adjustment for customers, effective October 1, 2024. This change comes in response to rising costs of services and equipment, marking the first rate adjustment since 2019. BCES General Manager Scott Owens detailed the adjustment in a recent notification, explaining that the increase was made in collaboration with the Tennessee Valley Authority (TVA).

The rate increase is primarily driven by the rising costs of essential equipment, such as transformers and poles. For instance, the cost of a standard residential transformer has surged from $300 to as high as $1,700. Similarly, the price of wooden poles has increased from $200-$300 to $400-$600, and metal poles have doubled in cost, now ranging from $5,000 to $7,000. These factors have led to the need for BCES to adjust rates to maintain and enhance their electric distribution system.

Impact on Customers

Residential and commercial customers can expect approximately an 8% increase in the BCES Distribution Cost section of their bill. For residential customers, this translates to an estimated increase of $10-$15 per month, while commercial customers will see an 8-10% increase. BCES emphasizes that the changes are reflective of each customer’s specific demand on the system and are designed to cover the costs of maintaining reliable electric service.

In addition to BCES's rate adjustments, TVA will implement a power cost adjustment averaging 4.25% for BCES customers, which will be reflected in the bottom section of their bill.

Effective Date

The new rates will take effect on October 1, 2024, and will be reflected on bills starting November 1, 2024. BCES encourages customers with questions or concerns to contact their customer service team for further information.

For more information, visit the BCES website at www.bcestn.org or call their customer service at 731-584-8251.