Starting in 2027, Piedmont Electric Cooperative will be considered a returning member in a strategic transition back to a full wholesale power supply customer of North Carolina Electric Membership Corporation (NCEMC). In 2032, Piedmont Electric will then become a participating member with NCEMC wholesale power.
As a not-for-profit cooperative with a mission to provide reliable electricity at the lowest possible cost, this transition to purchase wholesale power from NCEMC will have direct benefits to our members and strategically aligns us with many other cooperatives within the state of North Carolina. There are several benefits to this change starting in 2027:
- Economic benefits: NCEMC provides stability, reduces the impact of higher costs and potential rate volatility from other power supply resources, which would directly affect our members.
- Flexibility: Enables better resource utilization, reducing risk and creating additional value for purchasing power across the network.
- Longstanding partnership and alignment: In an every-changing energy industry, being aligned with NCEMC provides strength in numbers and aligns us with organizations who share our cooperative values.
Prior to 2004, Piedmont Electric purchased all wholesale electricity from NCEMC. Over the past several years, in conjunction with another wholesale power provider, Piedmont has continued to purchase a portion of wholesale electricity from NCEMC, specifically nuclear energy that provides our members with stable, baseload generation and zero emissions.
However, there have been a lot of changes in the energy industry over the last two decades from the introduction of renewable energy to new technologies like battery storage, microgrids, industry mergers as well as legislative and regulatory pressures that we must navigate.
The benefits of this transition back to NCEMC extend beyond mitigating risks. It is also going to provide us with more flexibility in managing our peak demand periods, which represents a significant portion of the total costs that are passed along to our members.
Ultimately, with a longstanding, trusted partner in NCEMC, we can continue our mission of serving our members by providing reliable, low-cost power and enhancing the quality of life in our communities.