Rates & Service Options
The Southern Iowa Electric Cooperative Board of Directors have approved 2 actions that will impact Members in the coming months.
ON-PEAK Demand – Third Phase
On November 1, 2019, Southern Iowa Electric Cooperative will initiate the third phase of implementing ON-PEAK demand rates in an effort to more accurately recover Cooperative wide power costs. The SIEC Membership creates an annual power bill that is paid to Northeast Missouri Electric Power Cooperative (NEP) that exceeds $7 million. Approximately one half of the Cooperative power bill is due to member electric use during 19 hours of the day while the second half is created in the remaining 5 hours. This is what established ON-PEAK hours in which a demand charge exists for SIEC Members.
$3,500,000 + $3,500,000 = $7,000,000
Midnight to 7:00 am 7:00 am to 8:00 am Approximate
8:00 am to 4:00 pm 4:00 pm to 8:00 pm Annual SIEC Cost of
8:00 pm to Midnight (ON-PEAK hours) Power
19 hours 5 hours
The November 1 change will impact approximately 4,000 residential, seasonal, farm non-residential and public meters across our service territory. The affected members will experience a revenue neutral rate class modification in which the charge for energy (kWh) will decrease from $0.1034/kWh to $0.0980/kWh and the charge for ON-PEAK demand (kW) will increase from $2.44/kW to $3.66/kW. The charge for ON-PEAK demand is ONLY APPLIED TO THE HIGHEST ONE (1) HOUR OF ENERGY USE DURING THE MONTH THAT OCCURRED DURING ON-PEAK HOURS – weekends and holidays excluded. For example; if a member uses 3,000 Watts (3 kilowatts) between 5:00 pm and 6:00 pm on a Monday and that was the highest 1 hour of use in that month, there will be a charge on the Member’s electric bill for $10.98 (3 x $3.66) for that month.
Capital Credit Retirement – Rate Relief Pass Through
A $709,000 Capital Credit retirement was approved on June 27, 2019, that will return $359,000 to Members served in 2018 and $350,000 from the years 1998, 1999, and 2000. Of the amount from 2018, $209,000 is attributed to AECI “Rate relief” extended to SIEC Members from Associated Electric Cooperative Inc. (AECI) and NEP. AECI is who generates our electricity and then sells the electricity to NEP before it is delivered to us. 2018 was a record year for AECI as the diversity provided by natural gas, coal, hydroelectric dams and wind generators met the needs of the system that they serve and allowed for AECI to sell excess electricity to other parts of the United States. This provided the $209,000 in AECI excess margins that the SIEC Board of Directors will be returning to the Membership as a credit on their September bill for 2018 SIEC Members.
The Cooperative Difference
Holidays that are not charged On-Peak Demand...New Year's Day, Memorial Day, Independance Day, Labor Day, Thanksgiving Day and Christmas Day
Returned Check Fee $30.00
Meter Testing Fee $25.00
Posting Fee $50.00*
Disconnect Fee $50.00
Trip Fee $50.00 (After Hours $150.00)
Reconnect Fee $75.00 (After Hours $225.00)
**Meters are posted for disconnect between November 1st and
April 1st if we do not contact the member before hand**
A member will be charged with the actual costs of any deliberate
destruction on SIEC’s property located on member's premises.
For current rate schedule contact our office at 1-800-607-2027.