North Central Electric's basic residential electric rate is separated into two components, Cooperative Service and Fees and Purchased Power Charges.
The meters record the amount of electricity consumed and when it was consumed. Under the Time-of-Day rate, power consumed during on-peak periods costs slightly more than power consumed during the off-peak periods.
Each month, the power bill from North Central's wholesale power supplier, Buckeye Power, is calculated based on the highest peak hours for the month. The cooperative does not know exactly when those peaks will occur each month, but it does have data that shows which hours those peak hours will likely occur.
The following is a summary of the Time-of-Day rate schedule for residential customers, effective Jan. 1, 2020.
North Central Electric also offers load management rates for members who install a load control switch on their electric water heater or their central air, heat pump or geothermal heating and cooling system. Learn more by viewing the programs and rebates page.
Commercial and Industrial Rates
North Central Electric's commercial and industrial rates are very competitive and vary depending on load profile and other factors.
Late fee adjusted to 6 percent
Effective Jan. 1, 2020, the late payment fee for electric bills received after the 15th of the month has been increased 1 percent to 6 percent. This is the first time the fee has been adjusted in at least the last 20 years. The fee is in line with the average late payment fee among the 24 Ohio electric cooperatives. The objective of the NCE board of trustees is to make sure the cooperative presents an incentive for members to pay on time and to recover at least 50 percent of the administrative costs associated with collection of past-due accounts.
On-peak and off-peak hours
Currently, the difference between on-peak and off-peak electricity is 4 cents per kilowatt-hour. Residential members typically use about 70% of their power during off-peak times.
If the average residential consumer can shift chores, such as running the dishwasher and clothes washing and drying, to off-peak hours, they can save on their electric bill. If they can't shift, they will most likely pay the average cost. If a member uses more than the average consumer during peak hours, then they will pay slightly more, since the cooperative incurs higher power costs on their behalf.
Each month, the power bill from North Central Electric Cooperative's power supplier, Buckeye Power, is calculated based on the five highest peak hours for the month. The cooperative has no way of knowing exactly when those peak hours will occur each month. However, NCE has data to show which hours those peaks will likely occur.
The on-peak versus off-peak hours listed in the chart above are based on this data. Members can access their electric use data by using SmartHub.