May Rate Adjustment

Rate Update Effective May 1, 2026

On May 1, 2026, members will see an increase in monthly bills. This is a direct pass-through cost from our not-for-profit wholesale power provider, Old Dominion Electric Cooperative (ODEC). The PCA (Power Cost Adjustment) Factor will be increased by 0.01152 to 0.03009 per kWh, increasing monthly bills for the average Residential member using 1,000 kWh by $11.52 per month.

We know our members count on us every day for the energy they need, and we want you to understand what goes into your bill, why bills are increasing, and what ODEC and BARC are doing to help manage costs.

Why is my bill increasing?

Your rates are adjusting mid-year due to two main factors:

State Policy Changes: Virginia is rejoining the Regional Greenhouse Gas Initiative (RGGI). By law, we must pay for carbon allowances, and these costs are passed through to members without any markup.

Extreme Winter Weather: During Winter Storm Fern (Jan/Feb 2026), natural gas prices skyrocketed from $5 to as high as $135 per unit. Because heating systems ran longer and market prices spiked, the cost to supply electricity rose significantly.

While our internal power generation and hedging strategies saved members from even higher costs, this adjustment is necessary to cover the remaining expenses from this winter.