Members of NGEMC will see an increase in electric rates beginning Oct. 1. The average residential member will pay about $7.88 per month more for energy before taxes.
The Tennessee Valley Authority (TVA) recently announced a 5.25% increase to the wholesale rates it charges NGEMC for energy. This increase follows a 4.5% TVA wholesale energy rate increase and the end of a Pandemic Recovery Credit in Oct. 2023.
Due to inflation impacting the cost of essential equipment, NGEMC will also implement a local rate increase, which is necessary to maintain the financial margins required by our regulators and lenders. The local rate adjustment combined with the TVA wholesale increases will raise power bills for the average residential member by a total of 5.03%.
For residential members, this increase will be reflected in changes to two line items. The System Support fee, a flat-rate charge that supports the overhead costs of delivering power to the home, will increase by $1.00 from $25.56 to $26.56. The Energy charge, which is based on energy consumption in kilowatt-hours (kWh), will increase by 0.529 cents per kWh for a total of 8.426 cents per kWh for the first 5,000kWh used each month.
In fiscal year 2024, approximately 77 cents of each electric sales dollar collected by NGEMC went to TVA. The other 23 cents supported NGEMC’s functions and line maintenance for reliable delivery of power to the community.
NGEMC's current contract (executed in 1976) requires the co-op to purchase 100% of its wholesale power from TVA with a five-year exit clause. NGEMC continues efforts to obtain flexibility from TVA to buy power from other potential suppliers.
North Georgia EMC is an equal opportunity provider and employer. The non-profit electric cooperative serves over 105,000 households, businesses, and facilities in Northwest Georgia.
