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Rocky Mount council adopts purchase power adjustment to cover rising wholesale electricity costs
Summary
The Rocky Mount City Council on Wednesday adopted an ordinance establishing a purchase power adjustment for the remainder of fiscal year 2026 to address higher wholesale electricity costs and a depleted rate-stabilization balance.
The Rocky Mount City Council on Wednesday adopted an ordinance establishing a purchase power adjustment for the remainder of fiscal year 2026 to address higher wholesale electricity costs and a depleted rate-stabilization balance.
City Attorney said the state statute that normally requires a public hearing for electric-rate changes allows an exception in limited circumstances, including catastrophic events or when adjusting rates is necessary to comply with law or contractual obligations tied to bonds or indebtedness. "If the ordinance is adopted, it also includes a finding that those circumstances stated in…
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