To better reflect the cost of wholesale energy, Hendricks Power will be updating rates for April usage, reflected in May statements
To better reflect the cost of electricity infrastructure and allow members more control and flexibility in their monthly expenses, Hendricks Power will implement a new rate beginning April 1, 2023. In addition to the current On and Off Peak weekday rates, there will now be a Super Off Peak rate.
The new rate structure will reduce the On Peak times to 5 - 8 pm; the Super Off Peak rate will be from 11:01 pm - 5 am, and all remaining time, including weekends, will be Off Peak. The On Peak rate will be $.2074/kWh, Off Peak will be $.1030/kWh, and Super Off Peak will be $.0562/kWh.
Hendricks Power works diligently to ensure rates are as affordable as possible for members and hasn't increased rates since 2015. Residential members may see an average increase of 8% if there are no changes in current usage habits. Members are encouraged to reduce energy usage from 5 - 8 pm when wholesale power is the most expensive. Hendricks Power also offers the SmartHub app, which allows members to monitor their daily and hourly energy usage. Complimentary energy audits are also available to help members lower their usage and educate them on energy-saving rebate options. If you have any questions or would like to schedule an energy-saving audit, please visit us online at www.hendrickspower.com/energy-advisor or call our office at (317)745-5473. For complete details and money-saving tips, visit www.hendrickspower.com/rate-update.
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