CCEC's mission is to provide members with safe, reliable, and affordable energy. The cooperative's board of directors and management team have worked diligently to control costs, allowing the co-op to delay any rate adjustments for as long as possible, despite fluctuating wholesale power costs, supply chain issues, and inflation over the past few years.
In 2023, the cooperative worked with a third-party consultant to determine future revenue requirements needed to continue to provide members with the service they expect; each rate class was evaluated to determine if a rate adjustment was necessary. Based on the study's findings, the board of directors approved a rate adjustment for members on residential and medium general service rates.
Members on residential service rates and medium general service rates will see an adjustment in their facilities charge. The facilities charge is a fixed monthly fee that covers the fixed costs associated with providing electricity to members, such as the cost associated with poles, wires, transformers, and meters.
For the average CCEC residential member, the rate adjustment means paying $3.20 more per month. Beginning with bills rendered after April 1, a typical member using 1,000 kilowatt-hours per month will see an increase from $123.27 to $126.47. After the rate adjustment, rates for CCEC members will remain below the average electricity rates in eastern North Carolina.
This will be the co-op's first rate adjustment since 2012.
Rate Change Q & A
The cost of providing electrical service has increased over 5% in the past five years. A rate adjustment is necessary to maintain CCEC's standard for reliable electricity and outstanding service.
For the average CCEC residential member, the rate adjustment means paying $3.20 more per month. Beginning April 1, a typical member using 1,000 kilowatt-hours per month will see an increase from $123.27 to $126.47.
| Service Type | Current Facilities Charge | April 2024 Facilities Charge |
|---|---|---|
| Residential Single-Phase | $22.80 | $26.00 |
| Residential Three-Phase | $46.75 | $54.00 |
| Residential Prepaid | $25.80 |
$30.00 |
| Medium General Service | $100.00 | $114.00 |
New rates go into effect April 1, 2024.
The additional revenue will help to cover the rising costs of materials. Any margins (profits) we receive will be invested in the electric system to meet our members' expectations for reliable electricity and outstanding customer service. Because we are a not-for-profit electric cooperative, any margins not used will be returned to members in the form of capital credits.
The co-op offers a variety of payment options to members.
PrePay: Our PrePay energy solution works the same as putting gas in your car: You pay for electricity as you need it. You can purchase small amounts every few days or buy more when your budget allows.
Equalizer: Your monthly electric bills are totaled for the year and then divided into 12 equal payments. This reduces the impact of seasonal factors that can affect your bill so you can avoid "sticker shock."
Auto-Pay: Set it and forget it! Your bills will be paid on the due date, using your default credit card or bank account.
View all of the co-op's payment options here.
Members have the opportunity to discuss the new rates plus learn more about the co-op's energy-saving programs at our upcoming member discussion forums.
Please join us at one of the following member forums:
- Carteret-Craven Electric Co-op, Feb. 29 @ 6:30 p.m.
- 1300 Highway 24, Newport
- Emerald Isle Town Board Meeting Room, March 5 @ 6:30 p.m.
- 7500 Emerald Drive, Emerald Isle
- Core Sound Waterfowl Museum, March 7 @ 6:30 p.m.
- 1785 Island Road, Harkers Island
- Havelock Tourist and Event Center, March 12 @ 6:30 p.m.
- 201 Tourist Center Drive, Havelock
Are you planning to attend? Let us know. Complete this brief survey to let us know what questions you have about the rate adjustment, energy-saving programs, etc.
Can't make it? Call or come by the office. We will be happy to answer your questions.