Nebraska Public Power District’s wholesale electric rates continue to rank among the most affordable in the nation, the public power utility recently said.
In 2016, NPPD began benchmarking its wholesale rates against others in the nation, utilizing a database maintained by the National Rural Utilities Cooperative Finance Corporation (CFC). The large group includes more than 800 electric utilities which purchase wholesale power.
NPPD’s Board of Directors set a strategic directive to achieve and maintain wholesale rates in the best quartile of the CFC’s analysis – which is at or below the 25-percentile for power cost. NPPD first achieved this goal in 2020 by reaching the 23.2 percentile and has remained in the lowest quartile since. The rankings for 2024 were recently released, with NPPD finishing at the 12.5 percentile.
“Public power brings tremendous value to Nebraska. We are helping to power a state that consistently ranks as one of America’s top destinations for business year in and year out. We do this while keeping rates affordable for our customers, who are at the forefront of our decision-making - customers who live, work, and play in Nebraska's communities served by NPPD and our wholesale customers,” said NPPD President and CEO Tom Kent.
NPPD has shared surpluses with customers in the form of credits which have been applied to the wholesale power bills and have effectively lowered the cost of power. In addition, NPPD’s wholesale rates have remained steady for eight straight years.
NPPD currently has wholesale contracts with 35 municipalities and 23 public power districts and cooperatives across the state.
