Electric rates to increase in early 2023

December 5, 2022

 • BY Ron Holcomb

As Tipmont REMC Board Chairman Brent Bible wrote in October’s Indiana Connection: Inflation makes everything cost more. More specifically, per the United States Bureau of Labor Statistics, general prices in our nation over the last decade have increased by nearly 30%. As Bible also noted, American energy costs have thankfully held that tide a bit. Here at home, Tipmont’s average monthly electric bill has increased by just 13% in the same period — well under half the inflationary rise.

At the same time, Tipmont is not immune to inflationary pressure. Costs have increased for Tipmont to deliver the reliable service you expect from your electric cooperative. For example: Since 2020, the cost of poles has increased by 33%, the cost of wires used most often has risen by 16%, and transformers now cost 200 to 300% more.

As responsible stewards of your cooperative, Tipmont has minimized costs where possible. We have also assisted members in times of hardship as necessary. Through these efforts, we have avoided rate increases and disconnections during, and well after, the most challenging phases of the COVID-19 pandemic.

Regrettably, financial mitigation can only accomplish so much in the face of current inflation while maintaining the reliability you deserve. In early 2023, your monthly Tipmont electric bill will increase between 3% and 5%.

On behalf of everyone at Tipmont, we are grateful for the trust you place in us. Rest assured that Tipmont will continue to fight to bring fair, flexible and affordable energy to the families, farms and businesses we are proud to serve. We look forward to meeting with you early next year for a winter edition of Kilowatts & Brats; keep an eye out for date announcements.

For those who may struggle with their bills at any time, here are area options for bill assistance:

  • Area IV Energy Assistance Program — 765-447-7683
  • Community Action Energy Assistance Program — 765-362-3790
  • Indiana Housing and Community Development Authority — Dial 211 or visit indianahousingnow.org
  • Lafayette Urban Ministry (LUM) — 765-423-2691
  • Salvation Army — 765-742-0006

You can also reach out to local township trustees and churches for assistance programs they may offer and find additional information at tipmont.org/energyassistance.

HOLIDAY OFFICE SCHEDULE

Our holiday wish is that all Tipmont members can use this holiday season to rest, rejoice and rejuvenate. The same holds true for our team that works hard to serve you.

Our offices will be closed on the following dates:

  • Friday, Dec. 23
  • Monday, Dec. 26
  • Tuesday, Dec. 27
  • Monday, Jan. 2, 2023

If you need to pay your bill, SmartHub is available online at tipmont.smarthub.coop, or you can call 800-726-3953 to use our easy, fast, secure automated payment solution.

Ron Holcomb

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Ron is a 30 year veteran of the electric utility industry with extensive experience in power supply, advanced grid technologies, essential service operations, economic development and value-driven growth initiatives for combined electric and telecommunication utilities. During his career, he has led three utilities as President/CEO and provided management consulting to utilities across the country. Ron joined Tipmont REMC as CEO in summer 2013. He holds a B.S. in Physics from Austin Peay State University and an MBA from Murray State University.