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SMU Electric Rates Lowest In State

SMU Electric Rates Lowest In State

Spencer, IA (KICD)–Spencer Municipal Utilities residential electric customers paid the lowest rate of any residential customer in the state of Iowa in 2012.

Marketing & Community Relations Manager Amanda Gloyd tells KICD News that the American Public Power Association says their rate of 6.8 cents per kilowatt hour consists of the rate, meter charge and ECA for SMU customers.

Public owned utilities are compared to both investor-owned and rural electric cooperatives in the study and the lowest residential rate in an investor-owned community in the state of Iowa came in at 8.3 cents per kilowatt hour while the lowest residential rate for an electric cooperative came in at 8.8 cents per kilowatt hour, making Spencer residential customers paying the lowest in the state.

On the commercial side, SMU ranked the 7th lowest rate in the state at 6.9 cents per kilowatt hour with the lowest investor-owned utility coming in at 6.8 cents per kilowatt hour and the lowest electric cooperative coming in at 6.3 cents per kilowatt hour for commercial rates.