NOVEC Raises Rates Nov. 1 in Loudoun, Prince William Counties
NOVEC increased residential electricity rates in Loudoun and Prince William counties by about $13.35 per month, citing higher wholesale power and operating costs. The increase comes as Northern Virginia's data center growth drives major increases in regional electricity demand and infrastructure costs.
Northern Virginia Electric Cooperative raised rates Nov. 1, increasing the typical monthly bill for a customer using 1,000 kilowatt-hours by about $13.35. NOVEC said most of the increase reflects its Power Cost Adjustment and that it passes wholesale power costs to customers without a markup.
The rate increase comes as data center expansion drives electricity demand and wholesale prices across Northern Virginia. NOVEC said it has collected more than $1.7 billion in upfront payments for data-center infrastructure and disputes claims that residential customers are subsidizing the buildout, while regional grid forecasts project substantial future demand growth tied to data centers. Dominion Energy is also pursuing transmission-cost recovery for infrastructure supporting the expanding load.