Frequently Asked Questions
Answer: The cost of wholesale power and inflation has continued to rise. Though Albemarle EMC is a not-for-profit business, the co-op must bring in enough revenue to cover operating expenses and meet its financial obligations.
The following are a few of the cost increases your cooperative has experienced since the last rate increase in 2012:
A Freightliner bucket truck cost $200,629 in 2012 and in 2023 costs $346,403, a 72.6 percent increase.
A 40-foot utility pole that cost $275.48 in 2012 now costs $356.05, a 29.25 percent increase.
A 15 KVA transformer that cost $758.38 in 2012 now costs $1,293.68, 70.59 percent increase.
A 150 KVA pad-mount transformer that cost $6,547.38 now costs $10,463.85, a 59.82 percent increase.
4\0 ACSR underground cable that cost $1.47 a foot in 2012 now costs $2.46 a foot, a 67.36 percent increase.
336 overhead wire that cost 73 cents a foot in 2012 now costs $1.11, a 52.26 percent increase.
Answer: The WPCA (Wholesale Power Cost Adjustment) is a charge that enables Albemarle EMC to make minor adjustments to members’ power bills to accurately reflect the changing cost of wholesale power. Wholesale power is purchased by the N.C. Electric Membership Corporation, then sold to Albemarle EMC. The co-op then adjusts the WPCA to cover the wholesale power cost, if needed. Sometimes the WPCA is a credit, other times it is a charge, depending on the rising or falling cost of wholesaler power. If at any time it is determined that revenue received for power costs exceeds the actual cost of power, the extra revenue will be returned to members through a WPCA credit on their electric bills.
Answer: The current residential rate of 11.43 cents per kilowatt hour (kWh), which has not changed since June 1, 2012, will increase to 12.69 cents per kWh. The residential basic charge will also increase from $22.50 to $29.50 per month. The average residential member’s bill of 1,250 kWh currently pays a total of approximately $177.89 which also includes a 1 cent per kWh wholesale power cost adjustment charge. On the new residential rate, the average bill of 1250 kWh will pay a total of approximately $188.14 which is an increase of $10.25 or 5.76 percent and will include no WPCA charge. To view the full rate schedule, click on the icon below.
Answer: The basic charge is a fixed component of a member’s bill that covers some of the fixed costs of providing electricity to the member, regardless of how much energy he or she uses during the month. These fixed costs include cooperative infrastructure necessary for power to reach homes and communities: poles, wires, substations, transformers, meters and other equipment associated with members' accounts. The cost of those fixed components has risen since the last rate increase in 2012.
Answer: The new rates will be effective for bills rendered on or after Nov. 1, 2024.
Answer: Since our last rate increase in 2012, we have experienced increases in wholesale power costs as high as 32 percent compared to current monthly averages and in excess of 20 percent on yearly cost averages. The cooperative retained a third-party consultant, Booth and Asssociaties, to conduct a cost-of-service study to design and determine where our rates need to be in order to maintain a financial healthy position.
Answer: Click on the icon below to access the new rate schedule.
Answer: Albemarle EMC is not the only energy provider or company/organization to adjust the cost of its services or products. The current economic landscape of both our state and the country continues to impact businesses, families and individuals alike.
Answer: The co-op's focus is and will always be to deliver electricity to you that is affordable, reliable and safe. Our commitment to containing costs by operating a lean, efficient business has not changed. We will also continue to work with the N.C. Electric Membership Corporation to keep wholesale rates reasonable and reliability strong.
Answer: Albemarle EMC offers an online portal, available at billing.aemc.coop/onlineportal. If you have an online profile with the cooperative, you can monitor your energy usage and set up alerts if your usage exceeds a certain amount.
Albemarle EMC also offers several payment options you can choose from:
FlexPay - Enables members to pay for electricity prior to using it instead of once-a-month billing. Because electricity is paid for up front, members who participate will pay a lower security deposit. Those who participate will be able to pay for their electricity either directly at the co-op's office during normal business hours, or 24 hours a day by phone or online using a credit or debit card. This program works best for members that would like to take control of their utility account, having the flexibility to make payments as often as they like and in the amount they desire, while keeping their balance above zero.
Levelized Billing - Bill amounts are calculated based upon the average of the previous 12 months of kilowatt hour usage. The amount of each levelized bill can vary due to the amount of usage each month, but levelized billing helps you to avoid the large changes caused by extreme weather.
Energy Audits - At no charge, Albemarle EMC will conduct an energy audit of your residence to recommend efficiency upgrades that will reduce your power usage. To set up an audit, call 252-426-5735.
Time of Day Rates - Members on the Time of Day rate are charged different rates for on-peak and off-peak kWhs. Because off-peak kWhs are significantly cheaper, members can save money by using power during off-peak periods.
Answer: Albemarle EMC is a not-for-profit, member-owned cooperative. We exist to serve our members with reliable, affordable power. Any margins we receive will be returned to members through capital credits.
Answer: The current rate increase is designed to carry us through multiple years. However, the timing of a future rate increase will depend on the rate of inflation and increases in wholesale power costs.