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Electric cooperative

Northern Virginia Electric Cooperative electricity rates

NOVEC served 167,274 Virginia homes in 2024 at an average of 11.57¢ per kWh, 2.84¢ below the statewide average that year.

11.57¢

2024 avg price

per kWh, all-in

-16.9%

1-year change

13.92¢ in 2023

-1.0%

per year since 2015

compounded

1,144

kWh / home / month

≈ $132 average bill

Northern Virginia Electric Cooperative average residential price vs. Virginia average, 2015–2024Cents per kWh by calendar year. NOVEC ended at 11.57 cents in 2024.11¢12¢12¢13¢13¢14¢14¢15¢20152017201920212023NOVECVirginia average
EIA-861, residential revenue ÷ residential sales, Northern Virginia Elec Coop. Statewide line from EIA-861M.
YearAvg price ¢/kWhChangeResidential customersAvg kWh / month
202411.57-16.9%167,2741,144
202313.92+4.8%165,7601,080
202213.28+10.1%164,6451,148
202112.06+4.7%163,4311,173
202011.52-8.1%161,9121,145
201912.53+4.6%159,9931,177
201811.98+0.7%156,9751,227
201711.90+4.0%154,5231,170
201611.44-9.6%151,9551,216
201512.65—148,7661,226
Compare ▲ BVU · 11.62¢ ▼ HEC · 11.51¢ All 19 utilities

Why the line slopes the way it does: why Virginia rates keep rising. What the charges on the bill mean: how to read your co-op electric bill.

Solar math at NOVEC prices

An average NOVEC home, solar-sized.

Using NOVEC's own average usage (1,144 kWh a month, ≈ $132), its 2024 price, a median Virginia roof (1,389 kWh per kW per year) and the calculator's default assumptions (3% annual rate growth, $2.75/W, no federal credit). Dollars are nominal. Every utility side by side: Is solar worth it in Virginia?

Run it with your bill

9.9 kW

System size

$27,225

Est. cost

$1,798

Year-1 savings

14.0 yrs

Break-even

$51,990

25-yr savings

$24,765

Net benefit

undiscounted

Service territory

Where NOVEC delivers power

1 Virginia locality, per EIA's service-territory file. Many counties are split between utilities; your bill is the tiebreaker.

Questions

Is 11.57¢ what I pay per kWh with NOVEC?
It is what NOVEC's residential customers paid on average in 2024: all charges on the bill before taxes, divided by all kilowatt-hours sold, as reported to EIA. Your effective rate depends on your usage (fixed charges weigh more on small bills), your rate schedule and any power-cost adjustment changes since then. Divide a recent bill (less taxes) by its kWh to get yours.
How have NOVEC's rates changed?
From 12.65¢ in 2015 to 11.57¢ in 2024: -8.5% in total, or about -1.0% a year compounded. The most recent year moved -16.9%.
Does NOVEC offer net metering?
Virginia's investor-owned utilities and electric cooperatives credit exported solar at the full retail rate, with credits carried forward for 12 months. The State Corporation Commission's April 30, 2026 ruling on Dominion's net-metering case kept full retail crediting in place. Electric cooperatives net meter under a separate section of the statute (§ 56-594.01). Each cooperative's board sets its own program cap, fees and interconnection paperwork, and at least one Virginia cooperative has reached its cap in the past, so check the current tariff before signing. Policy facts reviewed 2026-10-06.
Where does this data come from?
EIA Form 861 (annual) sales to ultimate customers, residential sector, filed by the utility. Last checked October 6, 2026.