Co-op Announces an Increase in Electric Rates for Virginia Members
Craig-Botetourt Electric Cooperative members in Virginia will see an increase in the rates they pay for their electricity starting with the bills they will receive during the first week of August.
The increase in our members rates is directly associated with an increase in the wholesale power the cooperative purchases to supplies to its members.
A typical residential member who uses 1,000 kWh per month can expect an increase of $7.45 per month or 5.2% over prior month’s rates. This increase will be to all members in Virginia. The specific amount and percentage increase will depend on the amount of electricity used by each account.
“Last year we received a reduction in the cost of the power from our power suppliers that equaled $7.55 per 1,000 kWh per month. This year with the increase in the demand for electricity related to a recovering economy and a severe winter we are unfortunately being charged more for the power we purchase to supplier to our members, General Manager Shawn Hildebrand.”