Carteret-Craven Electric Cooperative’s mission is to provide safe, reliable, and affordable electricity to the members we serve. As part of that commitment, the cooperative recently completed a comprehensive Cost-of-Service Study, which serves as the foundation for our new rates. The study ensures that rates are fair, equitable, and accurately reflect the cost of providing electric service to each member class.
The results of the Cost-of-Service Study demonstrate that CCEC continues to provide reliable electric service at rates that compare favorably with other electric providers in Eastern North Carolina.
While all electric providers face ongoing challenges from inflation, rising material costs, and increasing investments in infrastructure, CCEC works diligently to keep rates as low as possible without compromising reliability. Several factors contribute to that success including:
Conservative Financial Management
As a not-for-profit cooperative, CCEC’s focus is on serving members rather than generating profits for shareholders. The cooperative follows a conservative budgeting philosophy that emphasizes careful spending, long-term planning, and responsible stewardship of member resources.
Higher Member Density Creates Efficiency
One of CCEC’s greatest advantages is its relatively high member density. The cooperative serves approximately 17 members per mile of line, significantly higher than many rural electric cooperatives. This means the cost of building, maintaining, and operating the electric distribution system can be spread across more members, creating efficiencies that help keep electric rates lower.
A Lean, Local Workforce
The co-op’s small, highly efficient workforce is dedicated to serving the communities in which they live. By carefully managing staffing levels, CCEC is able to provide exceptional service while maintaining cost efficiencies. Local employees understand the unique needs of the area and work every day to ensure members receive reliable service and maximum value. After all, most of them are co-op members, just like you!
Economies of Scale
CCEC benefits from several cooperative partnerships that help control costs and deliver value to members. One of the most significant partnerships is with North Carolina Electric Membership Corporation (NCEMC). NCEMC provides reliable, affordable electricity to its 25-member cooperatives by owning power generation assets, purchasing electricity through long-term contracts, identifying innovative energy projects, and coordinating transmission resources. Because NCEMC serves multiple cooperatives, it can spread costs across a larger member base and leverage its scale to secure economical power supplies. These efficiencies help keep wholesale power costs lower, which directly benefits CCEC members through more affordable electric rates.
Tarheel Electric Membership Association (TEMA), a cooperative owned by North Carolina electric cooperatives, provides many of the materials and supplies needed to operate and maintain the electric system. Cooperatives pool their purchasing power to obtain competitive pricing on poles, transformers, wire, meters, safety equipment, and other essential materials. By purchasing these items in larger quantities, TEMA helps reduce costs that would otherwise be higher if utilities bought supplies independently.
At the end of the day, every decision is guided by one question: How can we provide the greatest value to our members? The answer is found in the cooperative principles that have guided CCEC for generations — local control, financial responsibility, and a commitment to serving the communities we call home.