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The New York Power Authority (NYPA) will be gradually increasing our hydropower supply costs over the next six years, beginning in April 2026. OEC sources over 80% of its power from NYPA's hydropower, which remains one of the most affordable energy sources available. Due to rising operations, maintenance, and administrative costs, NYPA will implement rate increases for rural electric cooperatives and municipal electric systems statewide. These rates are determined based on Cost of Service studies rather than market rates, and OEC has commissioned independent experts to verify the accuracy of these assessments.
The rate increases will be phased in gradually through six annual increments, with the first adjustment scheduled for April 2026. NYPA estimates the cumulative impact will be approximately 3%. For members using less than 1,200 kWh per month, this could mean an increase of about $1 to $2 per month. Notably, this is NYPAs first rate adjustment since 2014, and it will still maintain some of the lowest-priced hydropower in the country. By having long-term hydro contracts with NYPA, we have been able to save our members on average over an estimated one million dollars annually compared to what we would pay if we did not have those contracts in place.