REC Announces Net Bill Reduction in 2021
Fredericksburg, Va. – Rappahannock Electric Cooperative (REC) has announced a net decrease to REC member-owners’ electric bills. This reduction is the result of a decrease in the Power Cost Adjustment (PCA) for 2021, which is being partially offset by a modest rate increase to distribution costs.
A typical residential member-owner using 1,000 kilowatt hours (kWh) per month will see a bill reduction of nearly $6 per month beginning in January. The bill decreases are a result of REC passing along cost reductions from its wholesale power provider, Old Dominion Electric Cooperative (ODEC).
“Ultimately, the combination of ODEC’s long-term power contracts and new investment in power generation, including a growing mix of renewable sources, will reflect as a reduction to the PCA,” explained Matt Faulconer, REC’s manager of external affairs.