Virginia Electric & Power Co electricity rates

It serves 108,656 residential customers in North Carolina. Its 13.93¢ per kilowatt-hour sits 7.7% below the North Carolina average of 15.09¢.

Consumption here is high, 1,201 kilowatt-hours a month against a national average of 871. Long cooling seasons, large detached homes and electric resistance heating are the usual causes, and together they matter more to the bill than the rate does.

A shareholder-owned company whose rates are set by the state regulator, including an approved return on the capital it has invested. That matters because a bill is not only the cost of generating electricity: it also carries the cost of the network, and who owns that network changes how it is paid for.

In 2024 the average Virginia Electric & Power Co customer went 167 minutes without electricity across 1.24 interruptions. The median across the 941 utilities that report this is 185 minutes.

That is better than the typical American utility, though the figure includes major storm days and can move sharply from one year to the next.

Virginia Electric & Power Co offers time-of-use pricing to residential customers. 529 households were enrolled, about 0.5% of its residential base.

These plans are opt-in almost everywhere. They reward households that can move laundry, dishwashing, water heating or electric vehicle charging out of the late-afternoon peak, and they cost more than the standard rate for households that cannot. How to tell which group you are in.

722 residential customers had net-metered solar in 2024, totalling 5.28 megawatts. That works out to 6.6 installations per thousand customers, against a median of 8 across the utilities reporting it.

Adoption is below the national median. A low retail rate reduces what solar displaces, and export compensation set at avoided cost rather than the retail rate reduces it further. What exports are actually worth.