COLLEEN (WINA) – Central Virginia Electric Cooperative (CVEC) members will see the first rate increase on their bills in 5 years to help recover the rising costs associated with providing electric service. CVEC says the coop’s board of directors has approved an increase equating to 1.6% of total revenue from rates, or 5% of non-power supply costs, which makes an average monthly increase for average usage of about $3.40.
CVEC says they’ve endeavored to manage costs and is one of two coops in the Commonwealth that has not implemented a general rate increase since 2018.
They say the accumulated inflation has increased costs to the point that the present retail rates do not recover adequate revenue to offset all costs for distribution services.

The increase is effective this month.