Denton Municipal Electric informed customers on Wednesday that it is raising its rates.
During Tuesday’s Denton City Council meeting, the council approved a mid-year rate increase for DME customers beginning April 1. It is the first rate increase in over seven years, and according to DME, comes in response to escalating energy and transmission costs, including:
- ERCOT Market Increases: Statewide regulatory changes outside the control of DME have increased the cost of energy for all Texans.
- Increased Transmission Costs: This cost is paid by DME to other transmission system owners for investments they have made to improve the ERCOT grid.
“These rate adjustments are estimated to increase the average residential electric bill from $106 to $130 per month (when averaged annually),” DME said in a statement. “DME customers will continue to have among the lowest monthly bills on average than other Municipally Owned Utilities in Texas.”
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