At Carteret-Craven Electric Cooperative (CCEC), we are committed to keeping electric rates fair, transparent, and aligned with the actual cost of providing reliable service. As a member-owned cooperative, every rate decision is made with our members’ best interests in mind, not to generate profits, but to recover the cost of delivering safe, dependable electricity.
Beginning Oct. 1, 2026, CCEC will implement updated electric rates following a comprehensive Cost-of-Service Study. This independent study is a routine part of responsible financial planning and helps ensure each member class pays its fair share of the cost of providing electric service.
The Cost-of-Service Study examined every aspect of CCEC’s operations, including wholesale power purchases, system maintenance, infrastructure investments, equipment replacement, and administrative expenses. These evaluations determine not only how much revenue is needed to operate the cooperative, but also the fairest way to recover those costs among the various member classes.
One of the most significant changes is how wholesale power costs will be recovered. Over the past two years, members have seen the Wholesale Power Cost Adjustment (WPCA)grow several times as the cost of purchasing electricity from our wholesale power supplier increased significantly. Rather than increasing or decreasing base rates, the WPCA was designed as a temporary line-item adjustment on monthly bills that could be modified as wholesale power costs changed. While this approach allowed CCEC to respond quickly to changing costs, it also resulted in monthly bills that were less predictable.
Following the recommendation of the Cost-of-Service Study, effective Oct. 1, the current WPCA will be incorporated into CCEC’s base rates. The current WPCA charge will be eliminated and there will be a corresponding increase to the Base Grid Charge and energy rate. This adjustment creates a more stable and transparent rate while ensuring the base rates more accurately reflect the actual cost of providing electric service.
The Base Grid Charge, formerly the Facilities Charge, for standard residential members will increase from $26 to $30 per month, and the per kWh energy charge will increase slightly. Together, these changes more accurately recover both the costs of maintaining the electric grid and the variable costs of purchasing and delivering electricity.
The Base Grid Charge covers costs required to provide electricity to every home and business, regardless of how much energy is used. These costs include maintaining poles, power lines, transformers, substations, meters, and the crews, vehicles, and equipment needed to keep power flowing 24 hours a day, 365 days a year. The energy charge recovers the cost of purchasing and delivering the electricity members use each month.
Members will also notice an adjustment to the seasonal rate schedule. The summer rate will apply from April 1 through Oct. 31, while the winter rate will apply from Nov. 1 through March 31. This updated schedule better aligns seasonal rates with members’ actual energy use throughout the year.
Overall, these changes are revenue-neutral by member class. In other words, the purpose of the new rates is not to generate additional revenue for the cooperative, but to recover costs in a manner that more accurately reflects how electric service is provided. In fact, a residential member using approximately 1,000 kilowatt-hours per month is expected to see a bill decrease of about 75 cents per month under the new rate structure. Some members may see a slight increase, while others may see a larger decrease depending on their monthly energy use. See page 17 for several kWh usage examples using the updated summer and winter rates.
Although the WPCA charge will be eliminated, CCEC will continue to monitor wholesale power costs. A new Wholesale Power Tier Adjustment (WPTA) will replace the WPCA. If wholesale power costs increase or decrease significantly in the future, the WPTA may be adjusted to reflect those changes, helping the cooperative recover the actual cost of providing electricity while avoiding larger, more frequent rate adjustments.
Reliable electric service requires ongoing investment, thoughtful planning, and responsible financial stewardship. These rate updates help ensure CCEC can continue providing the dependable service members expect while maintaining a rate structure that is fair, transparent, and based on the actual cost of serving our membership.
As your electric cooperative, we remain committed to helping members manage their energy costs. Our team is available to review your electric usage, explain how the new rates may affect your bill, and recommend programs that can help you save, including Equalizer budget billing, energy efficiency rebates, and future Time-of-Use rate options. If you have questions, please call us at 252.247.3107. For more information about the new rates, click here.
Thank you for your continued trust and for allowing Carteret-Craven Electric Cooperative to serve you.