Lincoln Electric System’s Rates Continue to Rank Among Lowest in the U.S.

by Paul Ciampoli
APPA News Director
February 24, 2023

A nationwide study shows that Lincoln Electric System’s rates continue to rank among the lowest in the country based on 2021 data, the Nebraska public power utility said on Feb. 23.

LES’ annual competitive market study determined that the utility ranked 3rd best for the lowest residential all-in price and 16th best for the lowest average all-in price among 87 cities surveyed nationwide when including all retail sectors, said Joe Cocklin, manager, LES Rates and Analytics.

The study is a comprehensive report of electric utility metrics allowing LES to benchmark its performance with other utilities.

“This study is an effort to monitor our affordability and reliability,” Cocklin said. “We like to provide our customers an annual comparison to show our competitiveness with rates of other U.S. electric utilities.”

Additionally, LES ranked 8th for most stable rates over the past 10 years. In the area of reliability, without major event days of adverse weather, LES ranked 1st overall. The average total time a customer experienced a non-momentary power interruption in 2021 was 17.1 minutes.

LES is ranked 10th lowest overall for the average monthly residential bill. A typical residential customer paid an average of $82.99 on their monthly LES bill (less than $3 per day), which is 31% less than the U.S. average of $121.01. LES’ affordability is further shown by its 17th-place ranking for the lowest residential bill as a percentage of household income.

Cocklin said LES’ low rates are attributed to several factors, including low-cost generating resources and LES’ ongoing efforts to improve operational efficiency across all LES business units.

To learn more about LES’ study and its methodology, visit LES.com/Rates.