TCLP to Implement Modest Rate Increase, First in Two Years
Wednesday, June 5, 2024
Contact: Hannah Duell, Communications Specialist, (231) 932-4544, hduell@tclp.org
TRAVERSE CITY, MI – Pending a public hearing next week, the Traverse City Light & Power (TCLP) Board has tentatively approved a modest rate increase, effective July 1, 2024.
The adjustments are to ensure the utility’s continued move toward decarbonization/100% renewable energy use by 2040, enhanced community education services, and preventative tree trimming that maintains the low outage experience for customers, all outlined in TCLP’s 2024-2029 Strategic Plan.
“We understand that any rate increase can be a burden on personal and business budgets,” said Brandie Ekren, TCLP Executive Director. “We have worked conscientiously to minimize the impact as well as eliminate some barriers to electrification.”
The average TCLP residential customer uses 572 kWh per month. When the increase goes into effect, that resident will at most see around a 5%, or $4.50, increase in their monthly bill.
“These adjustments will also mean that there will no longer be two energy charge block rates, so residents won’t be assessed a higher cost for using more electricity,” Ekren said. “Their average cost will actually be reduced the more they use.”
TCLP understands the importance of affordability and is committed to providing customers with resources to manage their energy use, including:
- Energy saver programs: TCLP offers a variety of programs to help customers save money on their electric bills, including rebates on energy-efficient appliances and home upgrades.
- Budget billing: Customers can enroll in budget billing to spread their energy costs throughout the year and avoid seasonal spikes.
- Financial assistance programs: There are several programs offered by the government and organizations to qualified customers.
Within the industry, TCLP remains in the bottom five for its average residential price in the state of Michigan according to 2022 U.S. Energy Information Administration (EIA) data.
Residents interested in providing comments may do so at a public hearing during the Tuesday, June 11, 2024, Board meeting, which will begin at 5:15 p.m. in the City Commission Chambers at 400 Boardman Avenue, Traverse City.
Documents detailing the proposed overall rate increase can be found here.
About Traverse City Light & Power
Serving the community since 1912, Traverse City Light & Power (TCLP) is a municipally owned utility serving Traverse City and its surrounding areas. Dedicated to reliability, sustainability, and innovation, TCLP provides energy and telecommunication services designed to meet the changing needs of its community. For more information, visit www.tclp.org.