Pursuant to Virginia Code § 56-585.3, A&N Electric Cooperative will be implementing revenue-neutral rate adjustments that will go into effect on Jan. 1, 2024. The revenue-neutral rate adjustments will neither increase nor decrease the Cooperative’s revenues.
This reallocation of revenue within the Schedule TOU-B rate class is needed to cover the Cooperative’s standard fixed costs, which continue to rise due to the increased cost of materials and other inflationary pressures.
Schedule TOU-B will see an increase to the fixed access charge for single and multi-phase services.
RATE CLASS |
CURRENT ACCESS CHARGE |
NEW ACCESS CHARGE |
Schedule TOU-B (single-phase) |
$18.25 |
$27.90 |
Schedule TOU-B (Multi-phase) |
$32.75 |
$55.70 |
While the access charge will increase, the variable energy charge will decrease.
Schedule TOU-B (single and multi-phase
ENERGY CHARGES |
CURRENT RATE |
NEW RATE |
First 750 kWh |
$0.03754 |
$0.03475 |
Over 750 kWh |
$0.02554 |
$0.02554 |
Reducing the variable rate and shifting that cost to the fixed access charge will more equitably distribute the overall cost of electric distribution service across the Cooperative’s membership.
The proposed rate adjustment will result in either a decrease or an increase to a standard monthly residential bill depending on how much energy is used in a given month.
NOTE: Because of the time of use schedule’s nature regarding unique energy use specific to a business during on- and off-peak times, a general comparison cannot be created.
If you have any questions regarding how your bill may compare when using the new rate, please reach out to us using our “Contact Us,” Webchat feature or call 757-787-9750 to speak with a member services representative.
The Cooperative anticipates that more than two-thirds of the membership should see a decrease in their overall monthly bills as a result of the proposed rate adjustment.