Rising Costs
For nearly 85 years, Mid-Carolina has delivered what matters most. As a member-owned cooperative, we exist solely to serve you in the most cost-effective way possible.
We all feel it — the pressure of rising prices in every part of our lives, from the grocery store to the gas station. At Mid-Carolina, we feel it too.
Despite rising costs nationwide, we’ve been able to keep our power bills stable for members in recent years. Even as far back as 2016, we introduced a groundbreaking rate structure that gives members the control to lower their monthly bills. We’re proud of this continued commitment to safe, reliable, cost-effective electricity. Yet, a significant increase in our wholesale power cost beginning in January, coupled with new federal regulations and high inflation, will require we make rate adjustments in early 2025.
We’re not alone in this. Electric co-ops across the state will have to make this inevitable, necessary change too. We’ve postponed a rate increase as long as possible and commit to making only the changes needed to counter rising cost pressures.
Just as members have always relied on us, you can count on our transparency through this process and our commitment to affordable electricity. Check back here for additional information in the coming months or read more in President and CEO Bob Paulling’s article in the September edition of SC Living.
Ways to Save
Want to save on your power bill? Simply adjust your heavy electricity use to outside of on-peak hours and tap into some of the lowest energy rates in the country.
Winter On-Peak Hours
November 1 - March 31
6 - 9 am
Summer On-Peak Hours
April 1 - October 31
4 - 7 pm
Frequently Asked Questions
Why are electric rates increasing?
We’ve all felt the pressure from rising prices, and electric utilities are no different. The costs of materials, labor, and new federal regulations have risen drastically, driving up the cost to produce and deliver power. Additionally, a four-year rate freeze for our main power supplier, Santee Cooper, is ending in December, adding further financial pressure on us.
What factors are contributing to the rising costs?
Several factors contribute to rising costs:
- Inflation: Increases in the cost of everyday items.
- Materials and Labor: Significant increases in the costs of materials and labor needed to produce and deliver electricity.
- Federal Regulations: New regulations have added to the overall cost.
- End of Rate Freeze: The end of a four-year rate freeze for our main power supplier, Santee Cooper.
Why does the end of Santee Cooper's rate freeze affect us?
As a distribution utility, we do not generate power ourselves. We purchase it from suppliers like Santee Cooper. With the rate freeze ending, we will face increased costs for the power we purchase, which unfortunately impacts our overall expenses.
What steps is Mid-Carolina taking to mitigate these costs?
We’re committed to standing in the gap for our members. Here are some steps we're taking:
- Reducing Costs: Implementing measures to reduce our operational costs wherever possible.
- Policy Advocacy: Fighting for policies that protect our members from rising costs.
- Efficiency Improvements: Continuously improving our operations to enhance efficiency and lower expenses.
How often does Mid-Carolina Electric Cooperative raise rates?
As your not-for-profit energy provider, we rarely raise electric rates. We consider rate increases only as a last resort after exhausting all other options to manage costs.
What does it mean to be a not-for-profit energy provider?
Being a not-for-profit energy provider means that we operate solely for the benefit of our members. We do not aim to make a profit. Any revenues we generate are reinvested into the cooperative to improve services and infrastructure, ensuring safe, reliable, and affordable energy for our members, or returned to members in the form of capital credits.
How is Mid-Carolina Electric Cooperative supporting members during these challenging times?
We remain committed to providing safe, reliable, and affordable energy. Despite the challenges, we continue to:
- Stand in the corner of our members, advocating for their best interests.
- Implement cost-saving measures and efficiency improvements.
- Fight for favorable policies at the federal and state levels.
What should members expect moving forward?
Members can expect communications and our continued dedication to delivering safe, reliable, and affordable energy. While rising costs pose challenges, our commitment to our members remains steadfast. We will keep exploring ways to minimize the impact of these costs on our members and provide transparent communication about any necessary rate adjustments.
Where can members go for more information or to voice concerns?
Revisit this web page or contact Member Service at (803) 749-6555 for more information. We encourage you to voice their concerns and ask questions. We’re here to support and assist you in any way we can.
