LREMC Announces Temporary Rate Adjustment in Response to Wholesale Power Cost Increase and Inflation

Wholesale power costs have surged by 8%. Additionally, the recent rise in inflation has further contributed to the economic challenges LREMC faces. As a result, effective June 1, 2023, Lumbee River EMC has implemented a temporary rate adjustment to mitigate the financial impact on the cooperative and its members.

The 5.5% increase is a temporary rate adjustment on all member bills in response to these unforeseen circumstances. This temporary rate adjustment has been implemented to address the rising cost of power and increased inflation, allowing us to continue delivering reliable and high-quality electrical services to our members. The adjustment will be reviewed monthly, ensuring it accurately reflects the prevailing market conditions and allows for necessary modifications.

The temporary adjustment will result in a $5.50 increase per 1000 kWh used, visible on your electric bill. We understand that this may pose an additional financial burden for our members and assure you that we are working diligently to explore all avenues to minimize the impact of these challenges.

Lumbee River EMC remains committed to maintaining transparency and informing our members about any developments affecting their electricity rates. We will continue to provide regular updates regarding the status of the temporary rate adjustment and any changes that may occur in the future.

“We deeply value the trust and loyalty of our members and appreciate your understanding and support during these challenging times,” said Jon T. Locklear, LREMC President and CEO. Should you have any questions or concerns, please do not hesitate to contact our customer service team. We remain dedicated to serving you and our community and will navigate this challenge together.

Lumbee River EMC is a not-for-profit electric cooperative serving 54,000 member-owners in five counties. We are dedicated to providing our members with reliable, affordable, and sustainable electricity while prioritizing exceptional service and community engagement.