Palmetto Electric Cooperative has announced rate adjustments, including a $1 increase in the facility charge and a new rate to encourage off-peak consumption.
A fee applied to each meter to pay for maintenance, plant upkeep and other operations costs, the facility charge will increase from $16 to $17. The increase will apply to residential and small commercial accounts, according to a news release.
Palmetto Electric also announced a new "time of use" rate as an alternative for residential consumers to encourage off-peak electricity use.
The new rate will provide savings to consumers shifting their usage away from peak periods, like warm afternoons and cold mornings, the release said.
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Palmetto Electric will also shift about "one half cent from the power cost adjustment factor into its base rates," the release said.
"This change will be revenue-neutral and will not impact the actual charge for electricity consumed," CEO G. Thomas Upshaw said. "Palmetto Electric's rates remain among the lowest in South Carolina."