2026 Streamline Rate Revision FAQs

SVEC continues to evaluate its rate structure to line cost recovery up with the investments being made in our electric distribution system. This rate increase does not prevent additional changes, but it does ensure the impact of potential future revisions will be less on members.

• In essence, this is a co-op version of a cost-of-living increase.
• Since its most recent rate increase, SVEC has continued to see rising costs of service.
• At the same time, SVEC has continued to invest in the safety and reliability of its system, consistent with good utility practice and member expectations for performance. Examples include a new fiber utility network, advanced metering technology and general system maintenance and upgrades.
• The requested rate revisions will generate additional revenue to allow SVEC to recover the costs of these investments, to continue to meet its financial obligations, and to provide high levels of reliability and member service.
• This rate revision is part of the electric distribution portion of members’ bills – this is the portion SVEC has exclusive control over and makes up about 30% of the bill, as opposed to generation/transmission costs that SVEC passes directly through to members from our wholesale provider, Old Dominion Electric Cooperative. Watch this video to learn more about your electric bill.

Generally, under the proposed rates, an average residential member using 1,000 kWh per month will see an increase of about $6.51 per month. This SVEC-level increase is tied to distribution costs.

At the same time, residential members will see an increase in monthly bills, on average, of about $11 per 1,000 kWh for charges related to energy supply, driven largely by unplanned events affecting SVEC’s wholesale energy provider. These charges are pass-through costs from the provider, Old Dominion Electric Cooperative — in other words, SVEC members pay what SVEC pays for energy generation and transmission. Learn more about the ODEC-level changes here.

New rates will take effect on May 1, 2026. SVEC filed in April with the State Corporation Commission an application for an increase in distribution rates. The case filing is available here.