Virginia Electric & Power Co (North Carolina)
Virginia Electric & Power Co is an investor-owned utility, regulated by the state commission, serving 108,656 residential accounts in North Carolina. Everything below comes from its own 2024 filing with the US Energy Information Administration — the numbers the company reported about itself.
- Average residential rate
- $0.139/kWh
- Homes with solar
- 722
- Rooftop capacity
- 5 MW
2024 annual average
0.7% of residential accounts
residential, net-metered
What households here pay
Residential customers on Virginia Electric & Power Co's own supply paid an average of $0.139 per kWh across 2024 — total residential revenue divided by total residential kilowatt-hours sold, so it includes the fixed monthly charge, riders and fuel adjustments, not just the headline energy rate. It is the number your own bill would produce if you divided the annual total by the kWh.
North Carolina's statewide average was $0.147/kWh in June 2026 on EIA's monthly series. This utility's 2024 average ran about 5% below that. The two figures are measured differently and are two years apart, so read the gap as direction, not as a precise difference.
That made it the 10th most expensive of the 27 North Carolina utilities on this site in 2024.
What it did between 2020 and 2024
Virginia Electric & Power Co's all-in residential rate went from $0.116 in 2020 to $0.139 in 2024 — a rise of 20.2%. Each year is that year's own Form 861 filing, worked out the same way as the figure above.
Across the 505 utilities on this site the middle one moved up 15.7% over the same years, so Virginia Electric & Power Co moved with the pack. Rates rose almost everywhere in this window; the comparison is what says whether a number is unusual.
Residential revenue over residential sales, bundled service only, from each year's EIA Form 861.
How many neighbours already did it
722 homes on this system had a net-metered solar array at the end of 2024 — 6.6 per thousand residential accounts, or 0.7% of them. The median US utility on this site reports 12.1 per thousand, so uptake here is below average.
That ranks 11 of 18 North Carolina utilities reporting net-metered solar.
The rule that decides this, and it changed
The 30% federal residential credit (§25D) expired for systems placed in service after 31 December 2025. Every payback figure written before 2026 — including anything quoted at you by an installer working from an old spreadsheet — is overstated by roughly a third for a purchase. Leases and PPAs still reach §48E until the end of 2027, which is why the ownership question now decides more than the hardware does.Other North Carolina utilities
| Utility | Accounts | Avg rate | Solar per 1,000 |
|---|---|---|---|
| Duke Energy Carolinas, LLC | 1,919,372 | $0.139 | 12.8 |
| Duke Energy Progress - (NC) | 1,356,079 | $0.155 | 17.8 |
| EnergyUnited Elec Member Corp | 121,995 | $0.115 | 5.4 |
| Brunswick Electric Member Corp | 105,562 | $0.137 | 8.3 |
| Union Electric Membership Corp - (NC) | 84,602 | $0.134 | 7.2 |
| Jones-Onslow Elec Member Corp | 79,690 | $0.131 | 7.7 |
| Fayetteville Public Works Commission | 75,987 | $0.122 | 3.7 |
| Blue Ridge Elec Member Corp - (NC) | 71,926 | $0.146 | 4.6 |
| Rutherford Elec Member Corp | 70,743 | $0.131 | 5.6 |
| Greenville Utilities Comm | 65,731 | $0.120 | 2.3 |
| Lumbee River Elec Member Corp | 64,396 | $0.128 | — |
| Wake Electric Membership Corp | 53,268 | $0.134 | 14.9 |
Where these numbers come from
US Energy Information Administration, Form EIA-861, data year 2024 — the annual filing every US electric utility makes. Rates are residential revenue divided by residential sales on bundled service; solar counts are from the net-metering schedule of the same filing. Utility number 19876. Download the source archive and check any figure here against it.
Form 861 is annual and publishes roughly eleven months after the year it covers, so 2024 is the most recent utility-level data that exists anywhere. It is not today's tariff. For a current price, read your own bill; for a current rate structure, read the utility's tariff sheet. This page is for scale and comparison — what a typical household on this system pays, and how many of them have already installed solar.
Written and maintained by guarledes . Last reviewed 2026-08-19.