Trystan Casey
Owen Electric Cooperative provides electricity to 9 counties in Kentucky, including Kenton, Boone, Campbell, Scott, and Grant County. The company offers competitive rates and contracts to cater to the diverse needs of its members, which include homeowners, renters, farmers, and commercial facilities. Owen Electric's rates are influenced by several factors, and the cooperative provides optional rates that allow members to save money by efficiently using electricity and shifting their usage to specific periods. The cooperative also offers a Renewable Resource Power Service, allowing members to purchase electricity from renewable sources.
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What You'll Learn
- Owen Electric's rates are 5.73% above the state's average rate
- The company offers optional rates that allow members to save money
- The average monthly bill for Owen Electric customers is $160.85
- The company serves electricity to 9 counties in Kentucky
- Customers are billed an average of 13.57 cents per kilowatt-hour
Owen Electric's rates are 5.73% above the state's average rate
Owen Electric Cooperative provides electricity to nine counties in Kentucky, including Kenton, Boone, Campbell, Scott, and Grant. The company offers competitive rates and contracts to cater to the diverse needs of its members, which include homeowners, renters, farmers, small commercial facilities, and large industrial companies.
Owen Electric's rates are designed to provide flexibility and potential savings for its members. The company offers optional rates that encourage efficient electric use and reward members who are willing to shift their usage to specific periods of the day. These optional rates provide an opportunity for members to reduce their overall electricity costs.
The cooperative's power grid experiences fewer outages than the national average, with 1.38 outages per consumer annually, and shorter outage durations of approximately 97.99 minutes per outage. Owen Electric does not own any electricity production plants and purchases all its megawatt hours from other suppliers. This cooperative structure allows for net metering, where consumers with solar panels or alternative electricity sources can sell excess wattage back to the cooperative, making it more financially feasible for individuals to adopt renewable energy options.
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The company offers optional rates that allow members to save money
Owen Electric Cooperative provides electricity to nine counties in Kentucky, including Kenton, Boone, Campbell, Scott, and Grant. The company offers competitive rates and contracts to meet the diverse needs of its members, which include homeowners, renters, farmers, and commercial facilities.
Owen Electric's rates are designed to be flexible and give members control over their energy costs. One notable feature is the availability of optional rates, which empower members to reduce their electricity expenses. These optional rates are based on two key factors: efficient electric use and the willingness to shift usage to specific periods of the day. By optimizing their electricity usage, members can take advantage of these rates to lower their bills.
The company also recognizes the importance of renewable energy sources and offers members the opportunity to purchase electricity derived from environmentally friendly methods. Through the Standard Rider – Renewable Resource Power Service, members can opt to buy a portion or all of their kWh usage from renewable sources. This not only benefits the environment but also provides members with more control over their energy choices.
Additionally, Owen Electric Cooperative encourages members to reduce energy consumption at home and offers actionable steps to achieve this. By implementing energy-saving measures, members can further decrease their electricity costs. The company also highlights the issue of air leakage, which is responsible for up to 40% of energy loss in American homes, and educates members on ways to address this issue.
Owen Electric Cooperative is committed to providing its members with cost-effective and sustainable energy options. Through a combination of competitive base rates, optional rates, renewable energy choices, and energy-saving initiatives, members have the tools and knowledge to manage their electricity expenses effectively.
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The average monthly bill for Owen Electric customers is $160.85
The average monthly bill for customers of Owen Electric, a cooperative providing power to residents of Kentucky, is $160.85. This is 13.88% higher than the national average monthly residential electricity bill of $141.25. Owen Electric's rates are highest in November, and the highest average bill is in July.
Owen Electric offers several ways to pay, including automatic draft services, which save time, postage, and trips to the office. Customers can also pay in person at any Owen Electric office location, Monday through Friday, from 8:00 a.m. to 4:30 p.m. The company also offers Levelized Billing, which allows customers to pay an average amount each month based on their actual electrical usage. This amount is calculated by adding the current month's bill to the previous eleven months' actual bills and dividing by twelve. It is then adjusted up or down depending on the account balance.
Owen Electric's power grid has 1.38 outages per consumer each year, with outages lasting approximately 97.99 minutes. This is slightly better than the US average of 1.44 outages per consumer and 123.49 minutes per outage. The company does not own any electricity production plants and must purchase all the megawatt-hours they sell to their consumers from other suppliers.
Owen Electric provides competitive rates and contracts to fit the diverse needs of its members, including homeowners, renters, farmers, and commercial facilities. The company offers optional rates that allow members to save money by shifting their usage to specific periods of the day. Additionally, members have the option to purchase a portion or all of their kWh usage from renewable sources, which may be considered more environmentally friendly.
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The company serves electricity to 9 counties in Kentucky
Owen Electric Cooperative, Inc. is a Touchstone Energy Cooperative that began providing electric service to the rural residents of Owen County, Kentucky, in 1937. The company's first annual meeting was held on June 17, 1937, and was attended by five men who served as the company's first Board of Directors and were also its only members at the time. At this meeting, the first bylaws were adopted, and a contract was signed with the Rural Electric Association (REA) to construct 130 miles of line to serve around 500 applicants in Owen County.
By January 29, 1938, the first of Owen County RECC's lines were energized, and by April of the same year, the Board of Directors had voted to include Grant and Gallatin counties in the cooperative's service area. In 1951, the company moved to a new office space in Owenton, which served as its headquarters for the next 52 years. As of 2003, Owen Electric Cooperative has served well over 50,000 members throughout its nine-county area in Kentucky.
The nine counties that receive at least some electricity coverage by Owen Electric Cooperative include Kenton County, Boone County, Campbell County, Scott County, and Grant County. The company's patrons are billed an average residential electricity price of 13.57 cents per kilowatt-hour, which is 5.73% above the state's average rate. Owen Electric Cooperative offers competitive rates and contracts to fit the diverse needs of its members, including homeowners, renters, farmers, small commercial facilities, and large steel companies.
The company also provides optional rates that allow members to save money by efficiently using electricity and shifting their usage to specific periods of the day. Additionally, Owen Electric Cooperative was the first electric utility in Kentucky to promote and sell green power under the label EnviroWatts in 2001. This initiative has grown to become a significant portion of East Kentucky Power's renewable energy production, with five landfill gas power plants now generating enough electricity to power approximately 9,000 homes.
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Customers are billed an average of 13.57 cents per kilowatt-hour
Owen Electric Cooperative serves electricity to nine counties in Kentucky, including Kenton, Boone, Campbell, Scott, and Grant County. The company offers competitive rates and contracts to fit the diverse needs of its members, including homeowners, renters, farmers, small commercial facilities, and large steel companies.
Owen Electric Cooperative's patrons are billed an average residential electricity price of 13.57 cents per kilowatt-hour. This rate is 5.73% above the state's average of 12.84 cents, ranking the supplier 30th out of 62 companies in Kentucky for the lowest average electricity price. The nationwide average monthly residential electricity bill is $141.25, while the Owen Electric Cooperative average is 13.88% higher at around $160.85.
The billing demand, or kilowatt demand, is calculated as the contract demand plus any excess demand. Excess demand occurs when the consumer's peak demand exceeds the contract demand. The consumer's peak demand is the highest average rate at which energy is used during any fifteen-minute interval in the specified hours for each month.
Owen Electric also offers optional rates that allow members to save money by efficiently using electricity and shifting their usage to specific periods of the day. Additionally, they provide a Renewable Resource Power Service rider, allowing consumers to purchase electricity from renewable sources.
The company has a reliable power grid, with an average of 1.38 outages per consumer annually, and outages lasting approximately 97.99 minutes, which is lower than the US average.
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Frequently asked questions
Owen Electric's rates are subject to change based on factors such as efficient electric use and the consumer's willingness to shift usage to specific periods. The gross rate is 10% higher than the net rate, and the gross charge applies if the bill is not paid within 15 days. Additionally, Owen Electric's average residential rate of 13.57 cents per kilowatt-hour is 5.73% above the state's average rate, ranking them 30th out of 62 companies in Kentucky for the lowest average electricity price.
Owen Electric ranks 2294th in the US for the average monthly bill total. Their average monthly bill is $160.85, which is 13.88% higher than the nationwide average of $141.25.
Owen Electric offers optional rates that allow members to save money by efficiently using electricity and shifting usage to specific periods of the day. Additionally, they provide special provisions for delivery points and offer net metering for consumers with solar panels or alternative electricity sources.
