Cheyenne, Wyo., June 20, 2012 – Cheyenne Light, Fuel & Power announced today that the Wyoming Public Service Commission approved an increase in electric and natural gas rates effective July 1, 2012, the utility’s first base rate increase since Jan. 1, 2008.
After an eight-month process of review and legal proceedings including the Wyoming Office of Consumer Advocates and customer interveners, the PSC determined that Cheyenne Light’s investments in infrastructure were prudent and granted the utility permission to recover those costs.
“This decision will allow our 80 local employees to continue providing our customers with the lowest-cost, safest, most reliable and secure energy supply available in Laramie County. In fact, most of our residential customers pay just $2 to $3 a day for the energy needed to provide their lighting, heating, air conditioning, refrigeration, cooking, entertainment and communications,” said Mark Stege, vice president of operations for Cheyenne Light.
A typical Cheyenne Light residential electric customer using an average of 627 kilowatt hours each month can expect an increase of $3.17 per month. A typical Cheyenne Light residential natural gas customer using an average of 6.61 dekatherms a month can expect an increase of $3.72 per month. The increase commercial, industrial and governmental customers experience will vary depending on rate class, load factor and the level of their natural gas and electricity demand and usage.
“We are committed to providing the energy our customers need when and where they need it, and we are proud to lead the nation in reliability and safety,” Stege said. “Cheyenne Light is ranked second in the nation in reliability as reported by the Institute of Electrical and Electronics Engineers and was recently awarded the 2011 American Gas Association Safety Achievement Award for achieving the lowest employee accident rate among small-sized combination utilities in the nation. In fact, Microsoft recently recognized Cheyenne Light’s value as an electric provider and chose to locate in Cheyenne in part because of the reliable energy we provide to the community. And according to J.D. Power and Associates’ April 2012 electric and residential report, Cheyenne Light ranked higher than the Midwest region in power quality and reliability, corporate citizenship and customer service.”
As a committed corporate citizen and supporter of economic development for the past 130 years, Cheyenne Light played a significant role in bringing NCAR, EchoStar Data Center, SWAN Ranch Development and Microsoft to Cheyenne. These new businesses and other major employers in the area have brought approximately 2,600 jobs to the community during the past 27 years, according to local economic development figures. In 2011, Cheyenne Light shareholders also gave more than $180,000 in charitable contributions and sponsorships to more than 135 organizations in Cheyenne and the surrounding areas and in the past five years generously donated $150,000 to Energy Share of Wyoming.
Cheyenne Light offers customers a variety of programs to help pay and manage their bills, including online bill payment, budget billing and energy-efficiency programs. For more information about these and other programs, please call Cheyenne Light at 866-264-8003 or go to www.cheyennelight.com.
Filing Information: You can view Cheyenne Light’s complete rate request at the Public Service Commission of Wyoming’s Web site, or go to www.cheyennelight.com.
Caution Regarding Forward Looking Statements
This news release includes “forward-looking statements” as defined by the Securities and Exchange Commission, or SEC. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including the statement that the rate increase allows cost recovery for investments in utility and associated transmission and statements regarding the projected monthly rate increases for residential electric and natural gas customers, are forward looking statements. These forward-looking statements are based on assumptions which we believe are reasonable based on current expectations and projections about future events and industry conditions and trends affecting our business. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that, among other things, could cause actual results to differ materially from those contained in the forward-looking statements, including the factors discussed above, the risk factors described in Item 1A of Part I of our 2011 Annual Report on Form 10-K filed with the SEC, and other reports that we file with the SEC from time to time.
New factors that could cause actual results to differ materially from those described in forward looking statements emerge from time-to-time, and it is not possible for us to predict all such factors, or the extent to which any such factor or combination of factors may cause actual results to differ from those contained in any forward-looking statement. We assume no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.
Jerome E. Nichols 605-721-1171
Sharon Fain 307-778-2100
Media Relations Line 866-243-9002