REC Power Costs Decrease in 2020
January 2, 2020
In 2020, the power bill from Rappahannock Electric Cooperative (REC) for a typical home using 1,000 kilowatt hours (kWh) per month will go down $3 per month.
"This reduction is a result of REC’s long-term wholesale power contract with Old Dominion Electric Cooperative (ODEC) and its diversified portfolio of energy resources,” said Matt Faulconer, manager of external affairs. “REC’s relationship with ODEC provides access to affordable wholesale power, and that directly benefits REC’s members-owners in the form of this bill decrease.”
The reduction will show up on electric bills under the line item titled Power Cost Adjustment (PCA), and will appear on bills starting in January. The PCA, in addition to Electricity Supply Service rate, recovers the costs to generate and transmit power, which vary from year-to-year.
While the total bill reduction will vary depending on a member-owner's electricity use, the savings REC is passing along is .3 cents per kWh.
In addition to effectively managing wholesale power costs, REC and ODEC’s other member cooperatives are working to increase the use of renewable energy, with several solar facilities expected to soon be added across Virginia.