We continued to make significant strides in year three of our 2018-2021 construction workplan. The primary focus of these projects is to continue the hardening of our infrastructure to achieve greater durability in an increasingly harsh coastal environment while accomodating additional system growth.

Reliability is further enchanced by a more proactive approach to vegetation management that includes aerial trimming and the use of enviromentally friendly herbicides. These investments, combined with other operating expenses, required our first rate increase since January 2013. The March 2020 rate increase was subsequently minimized by the implementation of a wholesale power cost adjustment (WPCA) credit of 0.179¢ per kilowatt hour. When combining WPCA savings and capital credit retirements, more than $1.5 million in credits were issued to members of the cooperative in 2020.

2020 WORKPLAN MILESTONES

• $3.8 million submarine cable installation to replace the overhead connection to our Ocracoke submarine cable at Hatteras inlet
• $2.1 million project began to replace 141 wooden poles with ductile iron poles between our Five Points and Washington substations
• Began 15-mile line rebuild from Lake Phelps to the entrance of the Pungo Unit of the Pocosin Lakes National Wildlife Refuge
• Work continued to rebuild Pamlico County’s Merritt circuit southeast of our Bay River cable crossing