DeFUNIAK SPRINGS — Choctawhatchee Electrical Cooperative will reduce members’ bills this month by about $340,000, bringing almost $700,000 in total savings to members in November and December.
CHELCO cites these reasons for margins — funds remaining after all expenses are paid at the end of the year for 2015 — being higher than budgeted:
●The company reduced controllable costs below budget.
●CHELCO avoided some wholesale power costs through its Beat the Peak programs. Members contributed to this effort by conserving power at times of peak demand.
●PowerSouth, CHELCO’s wholesale power supplier, refunded higher-than-projected excess margins.
This article originally appeared on Crestview News Bulletin: CHELCO reduces member bills in December