February’s frigid temperatures led to history-making conditions across the regional electric grid. Due to a shortage of natural gas, available generation, and high electricity demand, for the first time in its 80-year history, the Southwest Power Pool (SPP) had to direct short-term, rotating power interruptions across its 14-state area to protect the integrity of our electricity grid.
Now that low temperatures are rising and SPP's energy emergency ended, Victory Electric faces unprecedented costs stemming from wholesale energy purchased to serve our members during the winter storm. Victory Electric is not alone - electric and gas utilities across the plains states and Midwest also incurred unanticipated cost increases. Victory Electric is waiting for more information and data from our power supplier before we can fully calculate the financial impact.
While Victory Electric does not yet know all the costs associated with February’s winter storm and it is still unclear what the true financial impact will be on the price of power for our members, please know Victory Electric remains focused on evaluating ways to mitigate the impact of any increased energy costs. We are determined to implement solutions that help minimize the financial impact of future electric bills on our members. One potential solution Victory Electric’s board of trustees is evaluating is to spread the costs long-term to ensure our rates remain affordable for our friends and neighbors. In addition, we continue to monitor the efforts of our elected officials and potential financial relief or aid. If at any point relief funds are issued to help minimize the long-term impact on our members’ energy bills, those funds will be passed on directly to our members.
Victory Electric's goal is always to provide our members with reliable electricity at a reasonable rate. And while we don't yet know all the impacts from this historic winter weather event, please know we have our member’s best interests at heart. There are still many factors at play in a continually evolving situation, and as we learn more in the coming days and weeks we will continue to communicate updates directly to our members via our website, Facebook page, emails, bill stuffers and/or other communication channels. Members can also call our office at 620-227-2139 and speak with a member service representative.