At Piedmont Electric, our mission is to provide reliable, affordable electricity while operating as a not-for-profit, member-owned cooperative. Each year, we review and adjust our rates to ensure we can continue delivering the service you depend on while maintaining financial stability. Here’s why these adjustments are necessary each year:
- Changing Energy Costs
- The cost of generating and purchasing electricity fluctuates because of fuel prices, market conditions and regulatory requirements. When these costs rise or fall, we adjust our rates accordingly to cover expenses.
- Maintaining Reliability
- To ensure you have reliable power, we continuously invest in maintaining and upgrading our system. This includes improving power lines, substations and other equipment to reduce outages and enhance service. These vital investments impact our costs each year.
- Inflationary Pressures
- Like any organization, we face rising costs for equipment, materials and operating expenses. Even with these increases, we continue to evaluate ways to operate more efficiently, while continuing to provide excellent service.
- Cooperative Difference
- As a not-for-profit cooperative, we proficiently cover our costs, so excess revenue is returned to our members as capital credits. This is one of the many benefits of being a cooperative member.
We remain committed to continuing to work to keep costs as low as possible while ensuring safe, reliable service for all members. These changes will take effect May 1, 2025. For a full list of our rates, please visit pemc.coop/rates.
If you have any questions or need assistance, you can reach out to one of our friendly member service representatives at 800.222.3107, info@pemc.coop, through SmartHub or our website chat.