At York Electric Cooperative, we’ve always believed in doing the right things for the right reasons. That’s why, for over 10 years, we’ve held the line on electric rates, absorbing rising costs, trimming expenses and growing responsibly to shield our members from the financial impact. At the beginning of the year, we made a rate adjustment for the first time in over a decade. Now, as we enter 2026 with more information about the cost for power generation and rising cost pressures, our board has unanimously voted to make an additional adjustment.
Beginning with electric use in January, residential and small commercial electric rates and commercial electric vehicle (EV) rates will increase by 6.5%. Large commercial and industrial business rates will increase by 4%. I know this is news no one wants to hear, and I want to assure you, this decision was not made lightly. It was necessary in order to recuperate the costs associated with delivering reliable, safe energy. Your Board of Trustees and our leadership team have worked tirelessly to minimize the impact on you, our members, while continuing to provide atcost power you can count on every day.
Let me be clear—York Electric is not-for-profit and member-owned. That means we don’t raise rates to increase profits. We raise rates only when necessary to cover the actual cost of delivering power to your homes and businesses. And right now, those costs are rising faster than ever.
From the price of transformers and wire to the cost of wholesale power and interest rates, nearly every expense we face has increased. In fact, 73 cents of every dollar you pay goes directly to purchasing power. Our power bill—just like yours—is going up, and we’re doing everything we can to soften the blow.
The average daily cost of electricity for our residential members is about $4.75, which is still one of the lowest in the state. That’s less than many of us spend on coffee or lunch each day, yet it powers nearly every aspect of our lives. Electricity remains one of the most valuable services you pay for, and we’re committed to keeping it that way.
We work hard to keep your co-op running efficiently by negotiating with our power suppliers and managing every controllable expense. In 2024, that commitment paid off. York Electric saved members $12 million in allocated expenses compared to the state median for South Carolina cooperatives. We’ve also invested in new infrastructure to improve reliability and prepare for growth. But even with these efforts, we can’t avoid the impact of inflation and rising power generation costs.
Still, there’s good news. Through careful financial management and long-term planning, York Electric will remain one of the most affordable electric providers in South Carolina, even after the rate adjustment in January 2026. And we will continue offering initiatives such as Beat The Peak and our Smart Thermostat program to help you save energy and money. These programs help us reduce demand during peak hours, when electricity is most expensive, and allow us to keep rates lower for everyone.
Most importantly, we’ll keep putting you first. Because at York Electric, you’re not just a customer, you’re an owner. And everything we do is for you.
Thank you for your trust, your partnership and your continued support. We’re always looking out for you.
President and Chief Executive Officer