Disaster Reimbursements

Tideland territory is increasingly impacted by hurricanes, tropical storms and nor’easters. When major power outages are covered by a federal disaster declaration, Tideland’s own financial recovery has been aided by a reimbursement formula whereby FEMA covers 75% of our expenses and NC Emergency Management covers the remaining 25% to make us whole. North Carolina is one of only two states to provide that recovery benefit.

Following Hurricane Irene, that benefit equated to $125 per Tideland member. FEMA reimbursed the co-op $1.44 million for Hurricane Florence expenses. NC Emegency Management covered the remaining $480,000. This funding is important to our ongoing rate stability.

First Base Rate Increase

Since March 2020 on the Horizon Tideland has not implemented a base rate increase since March 2020. That was, in fact, our first rate increase since January 2013, which was preceded by a rate decrease in July 2014.

Following the 2020 rate increase, we implemented a wholesale power cost adjustment (WPCA)credit that we were able to extend through January 2023.

Due to wholesale power cost increases, we implemented a WPCA charge in February 2023. Over time that charge has increased. Our predominant cost pressures arise from wholesale power supply as the nation confronts a significant increase in the need for generation driven by the rapid growth in data centers and blockchain operations.

As a result, we anticipate a base rate increase in early 2026 once we complete a cost of service study.

Remembering Rudy Austin

Board president Doug Brinson recognized our late Director Rudy Austin for his years of service. In his remarks, President Brinson said, “Rudy was an advocate for his Hyde County and Dare County district, but especially Ocracoke. When Rudy asked for an item, you knew the request was coming from a place of integrity. Rudy was diligent and dedicated to his work on behalf of the cooperative as he undertook trips from the island to the mainland to be with us for monthly board meetings. He always advocated for the right solutions for the island and Ocracoke’s longevity. Rudy cared deeply about his representation of his Tideland EMC district. He was a strong advocate for infrastructure spending not only on Ocracoke itself, but also the communities on the Dare County and Hyde County mainland.”