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Your rates are going up. Whether it’s the first time you’ve done it in a decade or it’s the sixth time in as many years, rate increases are one of the most complex stories to tell.
As a consumer-owned power or telecommunications provider, you must adjust your rates to cover costs. But how do you communicate the need for an increase when consumers already feel the sting of inflationary pricing in every area of their life?
When times are tough, our greatest strength is cooperation among cooperatives. Pioneer teamed up with Utility Pioneers across the nation to create a guide, “How to Talk About Raising Rates,” to help you craft a rate change communications plan. The guide breaks down rate change storytelling into three phases: research, communications planning and rate rollout.
The guide, written by Senior Vice President of Member Solutions Anne Harvey, Vice President of Special Projects Stephen Smith and Account Manager Justin Caudell, includes ways to connect with staff, a research list to help you make the case for the change and examples of rate change communication pieces.
The guide features peer perspectives from:
- Natalie Morgan, West Kentucky and Tennessee Telecommunications Cooperative
- Larry Mattes, Lake Region Electric Cooperative in Oklahoma
- Jeremy Tucker, Delaware Electric Cooperative
Each Utility Pioneer shares how they handled rate increases, with tips for what worked in their situation.
“How to Talk About Raising Rates” offers four key takeaways:
- Despite your best efforts, rates eventually increase. The decision is never easy, but as a community-owned utility, your rates must cover costs.
- Talk to utility employees about the rate increase process early and often. Keep them informed and equip them with tools, like talking points and wallet cards, to explain the changes
- Explain — again and again — why rates are rising across multiple channels. Blend tried and true methods like lobby flyers, on-hold messaging, newsletters, magazines, bill inserts and letters with new channels and technology. Use high-traffic areas like a drive-thru window to post a QR code linking to a microsite with a rate change timeline and community perspectives. Design a social media campaign to tell the story over time. Host a podcast or go on local radio shows with community leaders to explain what the change means for both businesses and residential consumers. Tell your story.
- Remember: You’re not alone. Every utility and telecommunications provider’s situation is unique, from timelines and rate structures to staffing and consumer base. Pioneer’s guide offers a shared framework to help you begin creating an effective program tailored to your situation.
Need more support? That’s why our co-op was created. Reach out to hello@pioneer.coop or schedule a meeting with our member solutions team to start planning a strategic rate increase storytelling plan.
Get your copy of the guide: