New Electric Vehicle Rate

The NOVEC Board of Directors has approved a new rate for electric vehicles under a new Virginia law that allows electric cooperative boards to implement a voluntary rate for their customers. NOVEC’s qualifying residential customers may now request switching from the Co-op’s regular residential rate to the new EV-1 rate, which will apply to all their electricity consumption.

To qualify for the rate, a customer must certify in writing to NOVEC that electric service will include charging one or more licensed electric motor vehicles (EVs) either owned or leased by the customer. Contact NOVEC Business Development at 703-392-1503, or businessdev@novec.com.

NOVEC designed the EV-1 rate to encourage customers to charge their electric vehicles during off-peak hours — 11 p.m. to 6 a.m. — when the electric system is less stressed and electricity costs are lower.

“Customers who sign up for the rate should save money if they charge their electric vehicles during off-peak hours,” states Howard Spinner, an economist and NOVEC’s manager of regulatory affairs.

Learn more about NOVEC’s new EV-1 rate here. In the market for a new vehicle and wondering if an EV is right for you? Read more information on EVs.