Is there going to be an increase in our electric bills?

Yes. Due to the unprecedented amount of damage and the extreme cost of recovering from the ice storm, the cooperative had to secure a $100 million Emergency Line of Credit (ELOC) from our lender. While we wait for state and federal financial assistance, we must begin paying interest on this loan, which will cost about $8 million annually. The PIE&G board approved an emergency storm recovery fee to cover this interest expense. The fee does not cover the cost of the recovery work, only the interest on the ELOC.