Recently, the CTEC Board of Directors approved gifting a $75 bill credit to each CTEC member, to be applied to their January 2022 billing.
2022 marks CTEC’s 75th anniversary year and the CTEC Board of Directors chose to celebrate with this gift to members. “This gift is not just about our anniversary year. It also represents the financial strength CTEC has been able to build and maintain even in times of crisis, and that economic health is projected to remain sound, now and into the future“ said CTEC CEO Bob Loth.
In addition to this bill credit, the CTEC Board of Directors also approved another rate reduction. CTEC was able to lower the Power Cost Pass Through line-item members see on their monthly bill from 5.7¢ to 5.4 ¢. This reduction amounts to an approximate savings of $3 - $5 per month for an average household using 1,000 to 1,500 kWh. This is the fourth reduction CTEC has approved over the last three years, giving CTEC members a total savings of $15 to $20 per month for the same average household.
“The CTEC Board and staff are committed to providing reliable electric service at a low cost,” said CTEC CEO Bob Loth. “We are always working hard to find savings to pass on to our members.”
While many electric co-ops across the state of Texas are having to increase their rates to compensate for financial losses resulting from Winter Storm Uri, CTEC’s financial position has remained strong.
“I am proud that in the aftermath of last year’s devastating winter, CTEC was not only able to lower the amount that each and every member pays per kilowatt of electricity – we are also able to gift each member with a $75 credit on their January bill” said CEO Bob Loth.
For more information, members are encouraged to visit <www.ctec.coop>.