The past few months have brought several long stretches of colder than average temperatures, forcing our home heating systems to work harder and longer to keep us warm, leading to higher energy bills. 
There are a few key factors that affect electricity prices, as well as a few ways you can make a meaningful impact on home energy savings. 

When you receive your monthly bill from CCEC, you’re provided with a summary of how much electricity you used during the billing cycle. When you log into your PowerPay24 account, you can even see how electricity use may have spiked on days when you used more electricity, such as a particularly chilly day or when relatives were staying with you. 

But you might be surprised to learn that beyond your monthly energy consumption, there are external factors that can impact the cost of electricity. 

Fuel prices

CCEC purchases electricity from our power generation partner, North Carolina Electric Membership Corporation (NCEMC), at a wholesale cost, then we deliver that power to our local communities. The cost of generating and transmitting electricity from our generation partner accounts for a significant portion of the cost to provide electric service to local homes and businesses—and the cost of fuels that are used to generate that electricity, such as natural gas and coal, fluctuate based on supply and demand. While these fluctuations can impact the cost of electricity, we work closely with NCEMC to plan ahead and help stabilize electricity prices for our members.

Extreme weather

While we can’t control the weather, we can review weather patterns and forecasts to prepare for times of extreme cold or heat, when we know the demand for electricity will increase. But when temperatures become extremely cold and the demand for electricity spikes, the price of electricity can also increase. 

Energy policy and regulations

Federal energy policies and regulations can have a profound impact on electricity costs. As energy generation shifts to the use of more renewable sources and stricter regulations for traditional, always-available fuel sources, such as natural gas and coal plants, costly upgrades and technologies must be constructed and deployed. These additional costs are ultimately passed to consumers. 
U.S. power consumption is expected to double by 2050. Across the country, electric cooperatives are working with members of Congress to advocate for smart energy policies that reliably power our local communities.

Take control

While many of these external factors that impact electricity costs are out of our control, we all have the power to manage our energy use at home. The most effective way to lower use is thermostat management.

Since heating and cooling account for a major portion of home energy use, adjusting the thermostat to the lowest comfortable setting in the winter and warmest comfortable setting in the summer can help you save energy and money.

Remember to service your heating and cooling system annually and replace dirty filters as needed.  Be sure to seal air leaks around windows, doors and other areas where gaps are possible. This will help your heating and cooling system work less and improve the overall comfort of your home. 

CCEC’s time-of-use rate encourages members to shift their energy usage to off-peak periods, when the demand for electricity is lower. In exchange for shifting energy usage to off-peak hours, they pay less per kilowatt hour (kWh) than the standard energy usage charge. This rate is ideal for members who can reserve energy-intensive chores for off-peak times. To see if CCEC’s time-of-use rate is right for you, visit ccemc.com/TOU.

If you own a smart thermostat, or if you’re in the market for one, consider participating in CCEC’s Connect My Thermostat program from Connect to Save. By enrolling an eligible thermostat, you can earn cash rewards by allowing the co-op to occasionally make small adjustments to your thermostat settings during periods of high demand. These small adjustments multiplied across thousands of homes make power more reliable and affordable for everyone. Visit ConnectToSaveNC.com/CCEC for more information.

CCEC is your local energy partner, and we’re here to help. Visit ccemc.com/MyHome to learn about our efficiency programs designed to help you save. As always, we will continue working diligently to provide you with reliable power at an affordable cost.