Like other businesses and families, REC has faced significant challenges related to inflation and supply chain barriers. While your Cooperative works year-round to keep costs down, the expenses related to maintaining a reliable electric grid continue to increase.
In late October, REC filed an application with the Virginia State Corporation Commission seeking approval to increase the rate charged for distributing electricity by about 4% for residential member-owners. The new rate became effective as of January 2023.
For an average residential member who uses about 1,350 kWh of electricity each month, your bill will increase by about $7.78. The residential Access Charge is not changing. Many business, commercial and industrial members will see an increase of about 2%.
Effective January 2023, REC also adjusted its line extension policy, setting a flat rate of $2,500 toward construction required to connect a member to REC’s system.
REC IS HERE TO HELP
Your cooperative will work with members to find solutions and payment plans that suit their budget. These solutions include a variety of flexible bill-payment options. In addition, state and local resources provide assistance for community members who are struggling to pay their bills.
Find more information on how REC Can Help HERE.