Lumbee River EMC is required by lending institutions and the USDA’s Rural Utility Services to maintain certain financial ratios, which are the performance indicators used by those institutions to measure the companies’ financial strength. “We’re going to have to do something to have more revenue to maintain the financial ratio that we have to have,” he said. White said the corporation no longer has the means to “belt tighten.” “Of course that adds to the overall cost to continue to provide services.” “Since 2014 to now, we’ve continued to add assets to the corporation,” White said. The construction of two new offices, in Pembroke and in Hoke County, and several substations also plays a role in the adjustment while giving the company key assets. Since then, there has been an 8% inflation increase in rates and the company has picked up a $23 million bill as part of Duke Energy’s coal ash cleanup bill, White said. The last rate adjustment the Lumber River EMC implemented was in 2014. So a household with a $150 bill for kilowatt usage currently would pay $159.75 under the new rate. “There’s a facilities charge of $27.65 for our residential members and that $27.65 is not impacted by the 6.5%,” White said. The rate increase will be applied to the total monthly kilowatt per hour usage but not the total bill, said Walter White, vice president of LREMC Corporate Services. You can be confident that we strive to improve the quality of life for our members and our communities while keeping electric rates as low as possible.” “I maintain my promise that Lumbee River EMC will do our best to always to make decisions with the impact to our members in mind. Too low and we could jeopardize our financial strength. If our rates are too high, then we may collect more money than necessary from our members. The utility is expected to decide on a permanent rate adjustment in a few months.ĬEO Carmen Dietrich released a statement Friday which reads in part, “Our goal is to always set our rates so that the right balance of margins is maintained - not too high and not too low. There are 18,167 customers in Robeson County. The adjusted rate will affect all 54,450 of its customers in Robeson, Scotland, Hoke and Cumberland counties. All rights reserved.PEMBROKE - The Lumbee River Electric Membership Corporation will implement a 6.5% temporary rate increase adjustment for its members effective Saturday. FINDENERGY is a comparison and research website that does not directly offer any energy related products.Ĭopyright © 2022 - 2023 Find Energy LLC. All trademarks remain the property of their respective owners, and are used by FINDENERGY only to describe products and services offered by each respective trademark holder. This data is not always in agreement with annually released government data due to differences in calculation methods and time periods.
Additionally, this data is compiled using known ownership relationships between power plants and electricity providers, while some of these relationships remain unknown. These 12 month periods may vary from provider to provider and from power plant to power plant, as some entities are required to report on a rolling monthly basis others report on an annual basis. Unless otherwise noted, all data is a compilation of the most recent 12 months of government released data. The company does not have ownership in any electricity production facilities and all of the power that they sell to their consumers must be purchased wholesale from other companies.ĭisclaimer: The data displayed on this page may be incomplete or incorrect. Lumbee River EMC is the 2646th ranked supplier in the nation for average monthly bill total. The nationwide average monthly residential power bill is $ 131.84, while the Lumbee River EMC average is 20.48% more at $ 158.83 per month. Their revenue in 2021 from electricity activities was $ 151, 381, 400, with 96.62% coming from retail sales to end users. They purchased 1, 420, 516 megawatt hours on the wholesale market. The electricity they sourced was made up of megawatt hours that they procured via the wholesale electricity market. They sold 1, 360, 524 megawatt hours in 2021 via retail sales. Lumbee River EMC bills their consumers a residential electricity price of 11.55 cents per kilowatt hour on average, which is 0.50% below the average state rate of 11.61 cents. These accounts are made up of 0.03% industrial properties, 4.11% commercial locations and 95.86% residential properties. There are a total of 64, 046 customers who are receiving service from the provider.
Lumbee River EMC is headquartered in Pembroke, North Carolina and supplies electricity in 4 counties in the state.
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