New Electricity prices took affect April 1st, 2025. The rates have been reduced in number to only 3 rate schedules. All the new schedules include four components, each designed to capture the costs associated with the purchase and distribution of electricity. They are as follows:
- Service Charge: charge to provide electric service at any given location.
- Energy Charge: charge for the cost per kilowatt/hour consumed.
- Capacity Charge: charge for costs related to the maximum required demand placed on the distribution system.
- Coincidental Demand Charge: charge for demand at the peak usage time on the transmission system.
Watch a video of Manager Russell Gall explaining the four components: https://youtu.be/xnzvKzzocTI
As an electric cooperative, rates are set by the directors of the cooperative. These directors are elected by and from the members of Charles Mix Electric to make up a seven member board of directors. The rates they approve affect every one of these board members directly. This form of governance is a system of self-regulation of rates, permitting at-cost operation. Thus, rates are not reviewed or approved by the South Dakota Public Utilities Commission.