How your dollar is spent

How your dollar is spent

At Piedmont Electric, we know that one of your primary concerns is the price you pay for power each month. We work hard to ensure that each of our members has access to safe and reliable power at the lowest cost possible. To find out more about your energy bill, we spoke with Steve Hamlin, President and CEO.

What makes up the cost of electricity?

There are many factors that contribute to your overall energy bill. The largest piece, which accounts for nearly 55 percent of your bill, goes towards purchasing power. Our other costs include member services, maintaining the power grid, interest, taxes, depreciation of plant and administrative costs associated with running any business.

Our fundamental purpose is to provide reliable, safe and affordable power to you, our members. Whether we are restoring power after a widespread storm or after a squirrel trips a circuit breaker, we will do our best to safely restore power quickly, day or night.

You also expect exceptional service and we likewise want to provide that to every member, every time, no exceptions.

To do all this requires a significant annual investment in people, equipment and supplies which is under tight budgetary control and is approved by our board of directors.

Why do we purchase energy from suppliers?

It is very expensive to construct and maintain power plants. It costs less to purchase power from wholesale suppliers like Duke Energy than to produce our own power.

How are my energy rates determined?

Your cost of electricity is based on the amount of energy you consume and the nature and load profile of your service needs. Regulations that drive up the cost of power generation sources including coal, natural gas, renewable energy and nuclear power will ultimately drive up the cost we must charge for energy.

What is Piedmont Electric doing to lower my bill?

To help you pay the lowest possible price for energy, Piedmont Electric works hard to keep costs down. Additionally, we provide time of day rates and programs like Beat the Peak to help reduce our energy during costly peak times.

What are peak hours?

Peak hours are the times of day when people use the greatest amount of electricity. Summer peak hours occur in the afternoons and winter peak hours occur in the mornings. Reducing Piedmont’s load during peak periods helps us lower our costs and control rates.

What can I do to lower my bill?

The biggest use of power for the typical home in our community is heating and cooling. So, setting your thermostat to 78°F in the summer and 68°F in the winter is a good start. If you want to take the next step, participate in one of our energy-saving programs like load management, Beat the Peak, time of day rates or take advantage of our free home energy audits.

To learn more about how you can save energy and money, visit our website or give us a call at 800.222.3107. As your trusted energy partner, we want to provide the best possible service at a good value.

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