DeFUNIAK SPRINGS — This month, CHELCO is again reducing members’ bills by about $300,000, bringing members' total saving in November and December to about $600,000.
CHELCO's margins for 2014 have been considerably more than budgeted, a spokesperson said. Members’ participation in the Beat the Peak program to reduce demand for power, combined with CHELCO’s efforts to manage loads, resulted in substantial saving on wholesale power costs. CHELCO’s enhanced efforts to control costs contributed significantly. And electric sales were above budget.
Savings will be reflected in the distribution cost adjustment. The change will be the same as in November.
CHELCO is a not-for-profit electric distribution cooperative serving more than 46,500 accounts in Okaloosa, Walton, Holmes and Santa Rosa counties.
This article originally appeared on Crestview News Bulletin: CHELCO reducing members' bills this month