The Southwestern Power Administration, part of the Department of Energy, has updated its wholesale rate schedules for power services through Rate Order No. SWPA-87. Starting June 1, 2025, the new rate schedules will be effective until September 30, 2027, unless overridden. These rates, which cover various types of electricity services, reflect a 22.8% increase to meet revenue requirements, and are now pending final approval from the Federal Energy Regulatory Commission. The aim is to cover increased operational costs and ensure the repayment of investments in power infrastructure over a 50-year period.
Simple Explanation
The people in charge of how much money it costs to get power from big rivers are telling everyone that soon it will cost more, just like things that get expensive over time, and they need to do this to pay for important stuff they built and need to take care of.