In early January 2024, Claiborne Electric notified members of an increased cost from the Cooperative’s wholesale power provider, which was related to critically low water levels along the Mississippi River.
This dramatically increased shipping costs for coal, resulting in a force majeure event beyond Claiborne Electric’s control, and the Power Cost Adjustment factor used to calculate member bills was increased to cover the charges. As a good faith effort to lessen the burden on member bills, these increased charges, while paid in full at the time by the Cooperative, where spread over months to Cooperative members.
Claiborne Electric is pleased to announce that the force majeure costs have now been fully recovered! Members will see lower power costs through a lower Power Cost Adjustment factor on current and future months’ bills.