Chelan PUD Board Approves New Cryptocurrency Rate, Effective April 1

The Chelan PUD has lifted its moratorium on cryptocurrency businesses, after they arrived at a new rate schedule for emerging industry. Marcus Bellissimo reports Chelan County PUD commissioners Monday approved a new rate for cryptocurrency, blockchain and similar operations. It goes into effect April 1, 2019, the same day the District will accept new cryptocurrency service applications.

Rates for neighborhood-based operations, if capacity is available, will start at about nine cents a kilowatt-hour and will increase to 10.5 cents/kWh in April 2020. Operations in commercial and industrial areas with available capacity will pay a little more than six cents a kWh.

Chelan PUD General Manager Steve Wright said they’ve taken the time needed for a careful look at the risks and costs involved, considered public comments gathered at a dozen meetings and arrived at a solution they believe protects existing PUD customers-owners and maintains opportunities for the emerging industry.

PUD Commissioners lifted the moratorium on cryptocurrency businesses in two steps. Evaluation of applications received before the March 19 moratorium will resume over the next several months. The PUD will accept new applications starting April 1, 2019, when the new rate is effective.