To maintain Carteret-Craven Electric Cooperative’s standard for reliable electricity and outstanding service, the cooperative’s board of directors has approved a rate change effective April 1, 2024.

Members on residential service rates and medium general service rates will see an adjustment in their facilities charge starting with April bills. 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, wire, transformers, and meters.

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.  

For members receiving a paper bill, the facilities charge is included in the residential energy charge. To see the facilities charge as a separate item, access your online account at carteretcraven.coop. 

Over the years the cooperative’s board of directors has worked closely with the management team to control costs, allowing the co-op to delay this difficult decision for several years despite fluctuating wholesale power cost, supply chain issues, and inflation that have impacted the cooperative. In 2023, the cooperative worked with a third-party consultant to determine future revenue requirements and develop the prudent rate adjustment for each rate class.     

“The cost of providing electrical service has increased over 5% in the past five years,” said CCEC CEO and General Manager Jake Joplin. “We have been able to mitigate a large portion of that cost increase by implementing new technology to be more efficient in our operations and how we purchase power. Unfortunately, we have gotten to the point where we need to increase rates to ensure the future financial strength of the co-op.”
Anthony Nelson, president of the CCEC board of directors, said the rate change will provide stability for the cooperative.

“As a not-for-profit business, we aim to provide service at the lowest possible price to our members,” Nelson said. “As a co-op, our mission is to enhance the quality of life in our community and look after its long-term interests. We love serving our members and our local community, and just like you, want to see it continue to thrive.”
Inflation and supply chain limitations are impacting every business and industry, and CCEC is no exception. Some materials for building power lines and substations have more than doubled in price and lead time over the past five years.

“The co-op has been fortunate to operate without a rate increase for the past twelve years despite major increases in many of the costs associated with providing electricity,” Nelson said. “This additional revenue is needed to ensure CCEC is able to continue providing all of its members with safe, affordable, and reliable electricity.”

After the April rate adjustment, rates for CCEC members will remain below the average electricity rates in eastern North Carolina. For more information on the rate adjustment visit ccemc.com/2024Rates. 

Member discussion forums scheduled

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 & 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.