At a time when we understand many members are still affected by COVID-19 related economic disruptions, we are glad to announce our Board of Trustees has reduced rates for the seventh consecutive month. Since April, our rate reductions have totaled 7.8%, saving members over $1.5 million through the end of the year. These rate adjustments have been reflected in the Power Cost Adjustment and Tier Tracker lines on GEC bills.
As a not-for-profit electric cooperative, we operate at-cost and are pleased to return savings to members through these rate reductions. We remain committed to operating as cost-effectively as possible while striving to provide exceptional service to our members.