Nov. 6, 2023
What You Need to Know About Proposed Utility Rate Increase in Wyoming!
By Jordan Freytag
Residents of Wyoming supplied by Rocky Mountain Power are bracing themselves for a potential increase in utility rates. Grappling with rising costs and the need to invest in infrastructure, RMP has proposed rate hikes that could affect the pocketbooks of 150,000 households. In this article, we will explore the potential impact on Wyoming residents.
The proposed utility rate increases in Wyoming, if approved, could have several of the following effects on residents:
Higher Bills: The most immediate impact will be on residents' utility bills. Households supplied by Rocky Mountain power could see higher monthly expenses for electricity, water, natural gas, and other essential services.
Cost of Living: Increased utility rates can contribute to a higher overall cost of living in Wyoming, affecting families and individuals, especially those with fixed or limited incomes.
Economic Impact: Small businesses and industries that rely on affordable utilities may face increased operational costs, potentially affecting their competitiveness and profitability. This, in turn, could have broader economic repercussions for the state.
Renewable Energy Adoption: Higher utility rates may encourage residents to adopt more energy-efficient practices and renewable energy technologies, such as solar, to mitigate the impact of increased costs. Additionally, this could inadvertently lead to Wyoming residents gaining more energy independence by adopting renewable energy systems.
Below, see how the nearly 30% rate increase will affect the average Wyoming household.