Wake Electric Announces Facility Charge Adjustment

Starting January 1, 2025, Wake Electric will adjust its facility charge by $10 across all our residential and commercial rates. This is the first facility charge adjustment since 2015. Importantly, the charge per kilowatt-hour (kWh) will not be increasing at this time. This change reflects the rising costs associated with maintaining and improving our electrical system, ensuring reliable service for all our members. While we understand that any increase may cause concern, we want to be transparent about the reasons behind this adjustment and reassure you of our ongoing commitment to keeping your bill as low as possible. To see how this facility charge adjustment will change view all our rates and riders.

What is a facility charge?

The facility charge helps cover the fixed costs of delivering electricity to your home or business, including maintaining poles, wires, substations, and the technology that ensures reliable service. This charge is a fixed feature on your bill before your variable monthly kWh usage is added.

Why is it going up?

Like many industries, the utility sector is facing rising material costs. The increase in the facility charge will allow us to continue investing in our infrastructure, enhance our response to outages, and support long-term improvements in reliability and service. Wake Electric remains one of the fastest-growing cooperatives in North Carolina, with no signs of slowing down. Raising our facility charge allows us to recover the proactive capital investments we’ve made in our electrical infrastructure, ensuring that your power system remains reliable as we continue to grow.

Material cost comparison

Material	2020	2024
25 KVA Transformer	$850	$1645
Transformer	$1095	$2400
PVC	$0.065 per ft	$3.00 per ft
Substation Transformer	$800,000	$1,800,000

 

Keeping Costs Among the Lowest in the Region

Even with this adjustment, Wake Electric’s facility charge remains one of the lowest in the region. As a cooperative working for our members, not for profit, we take pride in delivering affordable, reliable electricity. Our ongoing focus is to enhance your service while keeping costs as low as possible. With this change, the typical bill for 1,000 kWh a month will see only a modest increase, from $135 to $145.

Utility	Cost
Wake Electric	$145
Duke Energy	$152
Wake Forest Power	$164

*In a 1,000 kWh monthly home as of Jan. 2025

Supporting You Through an Energy-Saving Rate

If you’re looking to save on your bill with this facility charge adjustment, we highly recommend checking out our residential Time of Use (TOU) rate program. This program allows members to save by shifting energy use away from high-demand periods. With TOU, rates are higher during peak hours (just 2 hours a day) but significantly lower during off-peak times (the remaining 22 hours each day). By adjusting your energy usage, you can take advantage of these lower off-peak rates and see significant savings. For more details, visit our Time of Use webpage. Ready to sign up? Call 919.863.6300 or email us at information@wemc.com.

Residential Rate	TOU Off-Peak	TOU On-peak
12 cents per kWh	8 cents per kWh	24 cents per kWh

 

We’re Here for You

At Wake Electric, we are committed to serving you and ensuring that your electric service is dependable, affordable, and responsive. If you have any questions about the new facility charge or would like to learn more about our energy-saving programs, please don’t hesitate to contact us. If you are ever in a position where paying your bill is difficult, please don’t hesitate to reach out to us at 919.863.6300. As your local cooperative, we’re here to support you through both the good and challenging times. We’re committed to working with you to find a solution that helps ease the burden. We value our members and look forward to continuing to provide you with the reliable service you deserve.