Wake Forest, NC— Starting on January 1, 2014, Wake Electric will offer a favorable electric rate for residential account holders with an electric vehicle (EV) to encourage charging of their EVs during designated off-peak hours.

The discounted rate is available on a voluntary basis to all territory served by Wake Electric, subject to established Service Rules and Regulations of the Cooperative. This special rate is available to owners of or to those leasing “plug-in” EVs (conventional gas/electric hybrid vehicles that use the engine to recharge the battery are excluded).

This schedule is applicable to and available for residential single-family dwelling use only, excluding prepaid and net metered accounts.

The intent is to provide an incentive for charging of a “plug-in” electric vehicle during off peak times. To qualify, an applicant must:

– Register the vehicle with Wake Electric by providing a copy of the electric vehicle “proof of purchase” or lease agreement

– Provide the electric vehicle registration card corresponding to the associated electric address with the Cooperative

– Provide proof that vehicle can be recharged from an external (plug-in) source of electricity

– Agree to notify Wake Electric if ownership or lease of the electric vehicle changes during the calendar year

– Register annually for the rate

The energy charges for this special EV rate are:

– Monthly Facilities Charge — $12 (as compared to $10 for standard residential rate)

– All kWhs from 6 a.m.-10 p.m. will have a rate of 11.48¢ per kWh (same as standard residential rate)

– All kWhs from 10 p.m.-6 a.m., which is considered off peak, will have a rate of 9.48¢ per kWh (two cent discount from standard residential rate)

Note: Members with an electric vehicle currently billed on a TOU rate have the option to remain on their existing TOU rate or switch to the new rate.

Should members ask you any questions about this new rate, please refer them to (919) 863-6300 or (800) 474-6300.

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