All tagged ncempa
Kinston electric customers could soon see relief in their electric bills, as City Council prepares to consider a proposed 4% rate reduction. The measure comes on the heels of the North Carolina Eastern Municipal Power Agency’s (NCEMPA) final debt payoff in July, closing out more than four decades of obligations that once left member cities with some of the highest power rates in the state.
A debt that has weighed on Kinston, La Grange and 30 other eastern North Carolina communities for more than four decades has finally been retired.
The North Carolina Eastern Municipal Power Agency (NCEMPA) first issued $3.2 billion in debt in 1982 to buy ownership stakes in power plants, securing long-term electricity for its member cities. That decision gave towns like Kinston more control over power supply, but it also left them with some of the highest electric rates in North Carolina.
