At Piedmont Electric we work hard to keep rates low for our members and are pleased that our energy charge for residential members will not change; however a small increase to our facilities charge and some of our riders was necessary.
In 2020 we conducted a cost of service study to ensure that the cooperative maintained its healthy financial position. The results of the study showed that while we are able to keep our residential rate the same, a small increase to our facilities charge would allow for continued financial stability. As an at-cost, not for profit electric cooperative, our goal will continue to be providing you with exceptional service at the lowest cost we can. Our staff works hard to keep costs under control including efforts to limit our peak energy consumption which impacts our largest expense – wholesale power costs.
Piedmont Electric’s energy peak accounts for more than half of the costs we pay for electricity from our provider. In the summer, our peak occurs 1-7 p.m. when air conditioning units are typically running full blast. In the winter, our peak occurs between 6-10 a.m. when people are getting ready for their day.
This is the seventh year in a row that our residential energy charge component has remained the same. We are proud that our rates remain below the state and national average.
As your local cooperative we’ve kept rates dependable and steady while also making improvements to our system to increase reliability, returning capital credits to our members and delivering exceptional service.
Detailed to the above are the annual changes to various riders and rates charged by the cooperative. Piedmont Electric must comply with state energy efficiency and renewable energy standards. Each year, your cooperative adjusts these riders up or down to reflect the cost of complying with these requirements.
Also detailed are changes to the cooperative’s storm damage recovery rider, facilities charges, renewable generation net metering rider and what we pay to those who generate solar. Visit pemc.coop/rates to see the complete listing of our rates. Effective May 1, 2021.