Just in time for the holidays! CCEC members are paying less for electricity on bills mailed in November and December thanks to a credit increase in the wholesale power cost adjustment (WPCA). The credit is going from $2.50 per 1,000 kWh of electricity to $6. If your monthly use is 1,000 kWh, then you can expect to see a $6 decrease in your bill.
The WPCA reflects increases or decreases in the cost of electricity Carteret-Craven Electric Cooperative purchases from its wholesale power supplier for distribution to its members. Our wholesale power costs have been less than expected, and we are passing on the savings to you. The lower cost comes, in part, from members' participation in the co-op’s demand reduction efforts, such as our Connect to Save (connecttosavenc.com) smart thermostat program and our Time-of-Use program (ccemc.com/TOU).
Our annual budget and rates are based on our best projections of what we expect to pay for electricity in the wholesale market and what our projected kilowatt-hour (kWh) sales are for the year.
The WPCA is subject to change during the year to adjust when projected power costs and actual power costs fluctuate. The wholesale power cost adjustment clause has been in effect in all of CCEC’s rates since the 1970s and is common practice among electric co-ops nationwide.