Upcoming Changes To Rates

As costs are rising around us, it has become necessary for South River EMC to implement a change of rates, effective with the May bills.

There are several factors driving the change to include:

    • Increases in all aspects of business, especially materials.
    • Growing need for more facilities at a higher cost.
    • Cost of Power
    • Sustained high interest rates.

Rates are carefully crafted to ensure we recover our costs and maintain the financial stability of the co-op.

                      2024 Rates                      

                      2025 Rates                      

Grid Access

 

It is South River EMC’s mission to deliver electricity at the lowest possible cost, and we work hard to achieve this goal. A cost-of-service study confirmed that current rates need to be adjusted to cover expenses and maintain financial stability. Factors include increased business costs, higher power costs, and sustained higher interest rate.

The Equalizer is a temporary measure used to recover unexpected increases, while a rate change is a long-term solution for permanent increases.

South River EMC operates efficiently, implements cost-saving measures, and promotes energy efficiency and time-of-use rates. The Cooperative is also leveraging AI to streamline tasks and increase productivity.

South River EMC purchases wholesale power generated from various sources, including nuclear, coal, hydro, natural gas, and renewable resources. Upgrading and modernizing generation facilities increase costs. Additionally, as required by North Carolina law, we are including renewable resources in our fuel portfolio – such as solar and wind facilities.

The co-op operates as leanly as possible without affecting service quality. Budget cuts alone cannot offset the significant increase in delivery costs.

The adjustment will impact all rate categories.

Grid AccessRates Schedule

  • Consider converting to our time-of-use rate.
  • Visit sremc.com and try out the energy calculators to see where you can reduce costs.
  • Download the South River EMC app to manage your account, pay bills and report outages.
  • Enroll in to receive energy use alerts.
  • Learn about South River EMC’s rebates and energy efficiency.
  • Request a free home energy assessment.
  • Enroll your smart thermostat in Connect My Thermostat.

A time-of-use rate encourages using energy during off-peak periods, potentially lowering your bill if you can shift energy use to off-peak times. For more information, sremc.com/tou.