Mountain Parks Electric is increasing electricity rates for general service customers by 3.9 percent starting January 1, due to a rate increase from Tri- State Generation and Transmission Association of 4.9 percent, according to Joe Pandy, general manager for Montain Parks Electric.
The 4.9 percent rate increase from Tri-State spawns from increased federal regulation on the industry, according to Pandy.
Charges related to federal regulation account for 20 percent of the cost the wholesale electric supplier charges the electric cooperatives they serve, such as Mountain Parks Electric, Pandy said.
General service customers are made up of residential users as well as other smaller users such as ranches. The rate increase will take effect on bills issued after January 1, 2013.
The increase in rates is spread across all of Mountain Parks Electric's customers and aims to increase the co-op's revenues by 4 percent.