Getting your Trinity Audio player ready...

AHOSKIE – Roanoke Cooperative has announced a rate adjustment effective May 1 in response to rising costs in wholesale power delivery, operational maintenance, and equipment.

This adjustment reflects the cooperative’s commitment to financial responsibility while continuing to invest in essential infrastructure, particularly in broadband deployment.

Roanoke Cooperative officials say the decision to implement this rate adjustment was driven by the need to address increased costs incurred since the last adjustment, October 1, 2018, and accelerated investments in broadband deployment. Since October 2023, the cooperative has been passing through these costs via its Wholesale Power Cost Adjustment (WPCA) rider, consolidating all expenses into a formal adjustment effective May 1, 2024.

The rate adjustment impacts the basic facilities charges for all rate classes to align with the recovery of fixed costs associated with maintaining the electric distribution system. Additionally, there has been a 12% increase on all kWh charges, as of the rates published in the October 1, 2018 rate schedule, marking the last rate adjustment.

For residential electrical service, the current basic facility charge is $29.50, increasing by $15.50 to a total of $45 monthly. The current residential kWh of 13.27 cents will be increasing to 14.86 cents per kWh.

To address other financial needs and support ongoing investments, particularly in fiber deployments for broadband connectivity, Roanoke Cooperative has introduced the Wholesale Power and TIER Adjustment (WPTA) Rider. This rider will aid in achieving the cooperative’s goal of providing broadband connectivity to all member-owners, with monthly monitoring to ensure compliance with funding obligations.

Roanoke Cooperative’s commitment to delivering universal broadband began in 2016, with significant progress made since early 2023, and a plan to reach 75% of member-owner locations by the end of 2024. This strategic expansion is vital for supporting future electric rate stability and providing affordable internet services to member-owners.

In addition to broadband initiatives, Roanoke Cooperative’s strategy includes building networks in nearby towns, generating income quickly and benefiting member-owners, who are the sole owners of Fybe, the cooperative’s wholly owned broadband subsidiary. These expansions enhance the financial health of the cooperative and support reliable services and discounted internet options through Fybe in the future.

Recognizing the impact of rate hikes, Roanoke Cooperative encourages member-owners to inquire about various support initiatives, including the Upgrade 2 $ave Program, solar expansions, partnerships with social services and community assistance agencies, the Time of Day Rate Program, real-time usage management, and Fybe Broadband Services. These initiatives empower member-owners to manage costs effectively and benefit from essential services.

“We appreciate the ongoing support from our member-owners,” said Marshall Cherry, President and CEO of Roanoke Cooperative. “Their trust is paramount as we remain committed to delivering reliable and essential services while prioritizing the financial health of our cooperative.”

The new rates are published on Roanoke Cooperative’s website at www.roanokecooperative.com/rates.

Roanoke Cooperative serves over 14,000 locations across Bertie, Chowan, Gates, Hertford, Halifax, Northampton, and Perquimans counties.