NEW: SVEC Proposes Rate Increase
The Shenandoah Valley Electric Cooperative is proposing a base-rate increase for the first time in nearly 14 years.
The base rate is the cost electric customers pay each month to receive service from SVEC. It pays for the equipment and processes needed to generate and deliver power. The rate is determined by consumption and remains constant each month.
Customers in the “legacy” coverage area of SVEC, which is Rockingham and August counties and portions of Shenandoah County, will see an average 7.5 percent base increase. That’s an extra $8.01 on top of an average $107.90 for the typical consumer who uses 1,000 kilowatt hours of electricity each month.
Customers in the former Potomac Edison coverage area, which was acquired by SVEC in 2010, will see an average 5 percent increase in their base rates. The average customer will see an extra $5.16 on top of a $103.37 bill. The area includes Page County and portions of Shenandoah County.