Boone Electric customers could see rate increase for new building

Boone Electric Cooperative announced Wednesday it is completely rehabbing its headquarters in Columbia, including new buildings, and renovation of the existing space.

The plan is set to cost $25 million, and Boone Electric customers will likely see a rate increase to pay for the new building.

“Over the next few months, the board will discuss and analyze the options, but a modest monthly increase equal to the cost of an extra frozen pizza each month looks to be necessary,” the press release said.

The cooperative does not know the exact dollar amount or percentage increase rates will go up, because the board must decide how they put this project on customer’s bills.

“Will it be in the service availability charge, will it be in the kilowatt hour rate usage, will it be something completely different, will it be a mix of all of the above,” spokeswoman for Boone Electric Meredith Hoenes said, “Until they provide that, we won’t know the exact dollar amount or percentage.”

The board is expected to make a decision about the budget and rate increase by the end of the year, and the increase go into spring of 2020.

KMIZ