NOTICE: Town Reduces Electric Rates




July 13, 2017

Contact:         Ted Credle, Public Utilities Director
        919-934-2116 x1162; 

                        Tim Kerigan, HR Director/Public Information Officer
        919-934-2116 x1109; 

                                                          Town Reduces Electric Rates

In April 0f 2017, Electricities reduced its wholesale electric rate to its members by an average of 4.5%. With Smithfield being one of those members, Town Council directed staff to enlist the assistance of Utility Financial Solutions (UFS) to determine what, if any, rate reductions could be passed on to its customers.

Different possible reductions, as well as no reduction, were explored and analyzed. Following this review, staff recommended  that Council consider the full 4.5% average reduction to its own customers. On July 11th, Town Council approved staff’s recommendation. Depending on the type of service used by a customer, the reduction may be between 3.5% and 5.5% with an overall average of a 4.5% reduction between the entire customer base. 

Council wanted no delay in implementing this reduction and directed staff to have this reduction reflected in the customers’ August utility bill.