2024 Rate Revision
On Jan. 2, 2024, SVEC expects to file with the State Corporation Commission (SCC) an application requesting approval of a proposed increase in rates and charges for bills rendered on and after Feb. 1, 2024. Read the public notice here (PDF).
General rate resources:
2024 Rate Revision FAQs
Under the proposed rates, an average residential member using 1,000 kWh per month will see an increase of up to about $24 per month, which represents a 4.5% increase in the monthly bill and includes the Power Cost Adjustment rate as of November 2023.
- The Power Cost Adjustment (PCA) is a pass-through cost from our wholesale provider, Old Dominion Electric Cooperative (ODEC). SVEC has no control over it, and it makes up about 70% of the monthly bill.
- ODEC is forecasting a reduction in wholesale power cost in 2024, which will lower the overall impact on members.
- The exact numbers for how much members will save from the decreased PCA are to be determined.
Impact on individual member bills may vary based on rate schedule and usage.
The “Variable Distribution Charge” is the only portion of the bill that will change with SVEC’s rate filing.
The variable distribution charge, as the name suggests, will vary based on a member’s use. Those who use more will pay more through the variable distribution charge.
- It’s basically fuel (i.e., power) for someone’s home.
- Similar to filling up at the gas tank, you control how much you pay through this charge. The more you use, the more you pay.
The variable distribution charge serves to fund operating expenses the co-op incurs related to use of our infrastructure (poles, wires, towers, transformers, conductors, etc.).
The two charges that comprise the “Distribution Subtotal” are what funds SVEC operations (equipment, staffing, everything). Combined, they are the cost to provide electric service to someone’s home, after SVEC purchases power from ODEC.
Since our last rate increase in 2022, SVEC has continued to see increases in our costs of service consistent with the increasing operational costs in the utility industry and economy in general.
The 2024 increase will provide funding that offsets the increased cost of doing business to maintain a high level of reliability on our system.
The additional funds will go toward maintenance and construction of electric infrastructure expenses, such as poles, copper wire, transformers, etc.
- The increase will not create new rate structures or programs not currently supporting reliability and service.
There was a rate increase in 2022 that was larger in scope and coincided with an unexpected increase in ODEC’s PCA. It raised residential bills an average of about $18 per month.
While the last increase went into effect in May 2022, SVEC’s filing for those changes with the SCC were based on numbers from March 2019 through March 2020.
Inflation since January 2021 has put more pressure on the cooperative, which, as a not-for-profit utility, can only rely on revenue through the timely payments of members (i.e., there are no investors who inject cash into our operations).
The 2022 rate revision was SVEC’s first change in rates since 2014, and it was pursued, in part, to help fund the advanced metering infrastructure project, installation of a fiber network and administrative costs associated with introducing new programming, such as community solar.
With the 2024 rate change, SVEC anticipates it being several years before another increase is needed.
SVEC used the services of a third-party consultant to review current rates.
The consultant’s recommendations were presented to SVEC’s Board of Directors, which passed a resolution to pursue the rate revision in October 2023.
The consultant’s recommendations are reflected in the SCC filing.
In Virginia, utilities like SVEC are regulated by the SCC. The most common path to changing rates is through a “rate case,” or filing, with the SCC. If SVEC were to propose a decrease in rates, the same approach of making a request to the SCC would take place.
After SVEC files its rate case application to the SCC, which is expected on Jan. 2, 2024, unofficial documents can be viewed on the SCC's website.
Under the "Select Division" dropdown choose "Public Utility Regulation." Then enter case number 2023-00207.
Electronic copies of these documents may also be obtained, at no charge, by submitting a written request to the Cooperative’s counsel:
Timothy E. Biller, EsquireHunton Andrews Kurth LLP
Riverfront Plaza, East Tower
951 East Byrd Street
Richmond, VA 23219-4074
Any person subject to the changes proposed by SVEC has the right to request a hearing within 30 days of the application's delivery to the Commission, or by Feb. 1, 2024.
Requests for hearing should be directed to the Clerk of the Commission, c/o Document Control Center, P.O. Box 2118, Richmond, Virginia 23218.
Members who want to file an official complaint or comment with the SCC must do so directly on the SCC website.
- Complaints/concerns received over the phone or via email with SVEC will not be documented by the SCC.
Visit the Cases for Public Comment page of the SCC's website and find the relevant case, after it's been filed.
Projects filed with SVEC after April 2024 will be subject to a new line extension policy. Anyone with questions about the cost impact of the changes should contact a field engineering representative (FER) in their local district.
Rate Schedules
kW = kilowatt
kWh = kilowatt-hour
kV = kilovolts
Availability
Available to Consumers for normal uses in permanent single-family residences and residential farms. This schedule is not available for construction service. All service is subject to the established rules and regulations of the Cooperative.
Availability
Available to all Consumers for general service, commercial, industrial, single, or multiphase service, and all other non-residential service for all uses subject to the established rules and regulations of the Cooperative.
Availability
Available only to church buildings in which the principal place of worship is located, subject to the established rules and regulations of the Cooperative.
Availability
Available to Commercial and Industrial Consumers of the Cooperative for the supply of 100 kW or more.
Availability
This schedule is available only to those Consumers served under Schedule PC-5 prior to the effective date of this Schedule PC-6. The load served on the schedule must have an effective billing demand in excess of 100 kW.
Availability
Available as an option on a voluntary basis to qualifying Consumers for accounts served on current and subsequent iterations of Schedule B-13 and/or Schedule LP-13. To qualify, the load must have an effective Schedule B and/or Schedule LP Billing Demand in excess of 100 kW. All provisions of Schedule B and/or Schedule LP iterations in effect and as applicable will remain in effect except as modified by this rider.
Availability
Schedule HPS-3 is available only for existing High-Pressure Sodium lights in service as of the effective date of this schedule. All fixtures will be Sodium-Vapor, equipped with a photoelectric cell to provide dusk-to-dawn service, and will be connected ahead of the meter.
Availability
Schedule LED-3 is available to all Consumers of the Shenandoah Valley Electric Cooperative for the purpose of providing LED Light Service to homes, schools, churches, camps, businesses, and municipalities. All fixtures will be LED, equipped with a photoelectric cell to provide dusk-to-dawn service and will be connected ahead of the meter.
Availability
Schedule CMV-3 is available only for existing Mercury-Vapor lights as of the original effective date of this schedule. All fixtures are Mercury-Vapor, equipped with a photoelectric cell to provide dusk-to-dawn service, and are connected ahead of the meter.
Availability
Unless specifically excluded within this Schedule, all of the Cooperative's Terms and Conditions shall apply to customers taking service under this Schedule.
This Schedule is available to customers who qualify as small agricultural generators pursuant to Va. Code § 56-594.2 which operate a small agricultural generating facility with a total designed capacity of 1.5 MW AC nameplate or less. Power generated by the customers' facilities will be purchased by the Cooperative under this schedule. Power will be sold to the customer under the terms of the applicable rate schedule.
This Schedule is not available to customers who (i) use any type of interruptible rate, (ii) use any type of power production or generation-inclusive rate, (iii) are enrolled in any wholesale market-based demand response or demand-side management incentive program (such as the PIM Emergency Load Response Program or Economic Load Response Program), (iv) use net energy metering service under Schedule NEM, or (v) customers who are Small Power Production or Cogeneration Facilities which qualify under Section 210 of the Public Regulatory Policies Act of 1978 which choose to generate and sell power to the Cooperative pursuant to Schedule NeoGV,
Availability
Available to all residential member/customers where power being provided is single phase, 60 cycles, at the Cooperative’s standard voltage to a meter base rated at 200 amperes or less with adequate grounding.
Availability
The Renewable Energy Program is a voluntary program, open to all SVEC accounts, and has a contract requirement.
For more information or to sign up for Rider R, visit our Renewable Energy Option – Rider R page.
Applicable to Schedules:
- "A-13"
- "B-13"
- "C-13"
- "PC-6"
- "LP-13"
- "CMV-3"
- "HPS-3"
- "LED-3"
Effective January 5, 2023, a Sales and Use Tax Surcharge of $1.23 debit per account per month shall be applied to all consumer bills rendered under rate schedules set out above.
Availability
Solar energy subscriptions are available on a voluntary basis to Cooperative Customers (“Subscribers”) in good standing that receive electric service under Schedule A-13 and successor tariffs provided the amount of solar energy available from the Cooperative is not fully subscribed.
Availability
This Rider is available upon written request to the Cooperative by Consumers served on Rate Schedules “CQ”, “GQ”, “PHQ” and “PPQ”, except as specified below.
Availability
Available in all territories served by the Cooperative, subject to the Terms and Conditions of the Cooperative on file with the Virginia State Corporation Commission.
PCA Billing Factor
Month | Billing Factor |
---|---|
December 2023 | $0.01866 |
November 2023 | $0.01866 |
October 2023 | $0.01866 |
September 2023 | $0.01866 |
August 2023 | $0.01866 |
June 2023 | $0.02624 |
May 2023 | $0.02624 |
April 2023 | $0.02624 |
March 2023 | $0.02624 |
February 2023 | $0.02624 |
January 2023 | $0.02624 |
December 2022 | $0.01868 |
To be applied to all energy sales per kWh except those served on Schedule PC-5.
Availability
Available in all territory served by the Cooperative, subject to the Terms and Conditions of the Cooperative on file with the Virginia State Corporation Commission.
Availability
Unless specifically excluded within this Schedule, all of the Cooperative's Terms and Conditions shall apply to customers taking service under this Schedule.
This Schedule is available to customers with Small Power Production or Cogeneration Facilities which qualify under Section 210 of the Public Regulatory Policies Act of 1978, and which have a total design capacity of 100 kilowatts AC nameplate or less. Power generated by the customers' facilities will be purchased by the Cooperative under this schedule. Power will be sold to the customer under the terms of the applicable rate schedule. Power generated by customers' facilities which have a total design capacity of more than 100 kW AC may be purchased by the Cooperative through separate, independently-negotiated arrangements.
This Schedule is not available to customers who (i) use any type of interruptible rate, (ii) use any type of power production or generation-inclusive rate, (iii) are enrolled in any wholesale market-based demand response or demand-side management incentive program (such as the PJM Emergency Load Response Program or Economic Load Response Program), (iv) use net energy metering service under Schedule NEM, or (v) customers who are small agricultural generators under Schedule AgGEN (should such an approved rate schedule be filed).
This Schedule is available as an option for qualifying consumers throughout the service territory of the Cooperative, subject to the Terms and Conditions of Service filed with the State Corporation Commission of Virginia.