The single-unit, 900-megawatt Shearin Harris Nuclear Plant southwest of Raleigh is one of four power plants Duke Energy has offered to purchase from the N.C. Eastern Municipal Power Agency.

AP file poto

The single-unit, 900-megawatt Shearin Harris Nuclear Plant southwest of Raleigh is one of four power plants Duke Energy has offered to purchase from the N.C. Eastern Municipal Power Agency.

Duke Energy offers to buy public power plants

“We’re glad they made the offer, but as always, the devil is in the details. ... I’m just cautiously optimistic.”


Charles Penny
Rocky Mount city manager

By John Henderson

Staff Writer

5 Comments | Leave a Comment

Duke Energy has made a formal offer to purchase the power plant assets of an agency representing Rocky Mount, giving officials hope that electric rates might be reduced in the coming years.

Dear Reader,
This content is only available to subscribers of the Rocky Mount Telegram print or electronic edition. If you are a current subscriber and have established a user name and password, you can click the Electronic Edition subscriber login box to the right. If you have not established your user name and password, click here to set up your information. To become a subscriber, click here. For questions call Customer Service at 252-407-9907.

Comments

Power Plants

I thought Many parts of Rocky Mount along with eastern NC were already in a membership cooperative and that was a central part of the problem. Some parts of Rocky Mount get their power directly from Duke Energy Progress and pay lower rates.

Lower rates

I am not sure how electric membership cooperatives are part of the problem.

As I understand it, at the root of the high rates is the debt owed by the city to Electricities. Rocky Mount's share of the debt is just below Greenville's and just higher than Wilson's.

The city's share of the debt responsibility is $299,598,858. Yes, you read that right.

Source: http://www.electricities.com/default/aboutus/financials/NCEMPADebtResponsibility.aspx

Electric Cooperative

Here is how. You implied that your rates were lower because because you were part of an electric membership cooperative. Rocky Mount along with 32 other cities/towns in eastern NC are part of a cooperative that purchased some power generating capcity from Duke Energy-Progress- or CP&L. They are similar to a middleman and redistribute the power back to their customers. Unfortunately, with the large debt incurred rates are much higher than average. Regardless, of Rocky Mount's debt the city would have been better off never joining a cooperative and investing in power plants. And I have heard people in Wilson complain about high power bills. as well. My power comes directly from Duke Energy and not a cooperative. My rates are lower than many Rocky Mount residents as a result. Perhaps there is some difference between an electric membership cooperative and Rocky Mount joining with 32 other cities to purchase power plants and redistribute power back to residents.

Electric membership cooperative

I understand now. Rocky Mount, Wilson and Greenville (among other cities) are part of a municipal power agency (Electricities), and this is what you are referring to as a cooperative. I am aware of the debt issue, which goes back decades.

Yes, there is a difference. What I am talking about is a rural electric cooperative such as Edgecombe-Martin County Electric Membership Cooperative. My rates are indeed lower than electricity customers within Rocky Mount. EMC-EMC is not part of Electricities.

Huge news

If this is finalized, this will be a huge relief to my gainfully employed friends who are faced with a tremendous power bill nearly every month.

I am glad to live where I have an electric membership cooperative.

Add comment

Login or register to post comments