Energy price volatility pushes up electric rates for Pacific Power customers in Washington

Recent volatility in energy markets has caused an increase in electric rates of an average of 12.2 percent for 138,000 Pacific Power customers in Washington. Residential customers will see an increase of 11 percent and other customer groups will see similar increases. The new rates will go into effect May 1.

“The rate change is driven by significant increases in power and natural gas prices for energy we procure and produce to meet our customers’ needs and ensure reliable electric service,” said Matt McVee, vice president of regulatory policy and operations. “Over the last several months, we have seen an increase of almost 80 percent in electricity prices and almost 70 percent in natural gas prices. We actively manage our costs for energy, but the cost of serving our customers is impacted by these changes in the energy market. We know this increase may prove challenging to many of our customers and we have several programs to help you manage your energy bill.”

If you need assistance managing your energy costs, contact us toll free at 888-221-7070 and we can set up an equal pay plan or put you in touch with local resources to help you.

  • The federally funded Low Income Home Energy Assistance Program (LIHEAP) helps low income households with energy costs. It is administrated by the Washington Department of Commerce through local agencies
  • Tenants and landlords: Resources are available from the federal Emergency Rental Assistance Program to help renters unable to pay utilities and rent due to circumstances related to COVID-19. Funds are available for a limited time.
  • Project HELP is a nonprofit program providing energy assistance with donated funds.
  • Pacific Power's Low Income Bill Assistance program (LIBA) provides a bill discount to income eligible households year-round. The program is administered through the LIHEAP agencies. 
  • Local agencies provide free weatherization services to income-qualifying homeowners and renters living in single-family homes, mobile homes or apartments.

Power costs are trued up annually through the power cost adjustment mechanism, which may enable Pacific Power to provide a refund to customers if power costs decrease.