- Residential members will see a 4% rate adjustment.
- That equals a $7.78 increase for accounts with an average use of 1,350 kWh per month.
- Many commercial and industrial members will see an increase of about 2%.
- This distribution rate adjustment will help REC continue to power you with safe, reliable electricity.
- REC is also implementing an adjustment to what’s known as the Power Cost Adjustment (PCA).
- The cost of energy is a direct pass-through of the electricity REC purchases from Old Dominion Electric Cooperative (ODEC) and distributes to its member-owners.
- Transmission costs have increased.
- This increase has contributed to the change in the PCA factor from $0.01860 per kilowatt hour to $0.02193 per kilowatt hour effective Jan. 1, 2023.
Why and When is REC Changing Rates? What's Not Changing? Official Public Notice