As citizens desire to reduce associated energy expenditures, distributed energy resources (DER) such as wind turbines, photovoltaic cells, hydropower turbines, solid and liquid biofuels plants, etc., are being deployed in rural communities. The adoption of DER can provide renewable energy for electrification of rural communities often termed as local energy communities (LECs). As such, LECs have developed as a feasible solution to empower rural inhabitants to engage in local energy exchange across their district, to improve the economy and efficiency of residential users. Although prior studies have focused on developing business models for LECs, there are few studies that explore fair and transparent cost-pricing mechanisms considering local electricity tariffs that are easily interpretable by citizens in LECs. Accordingly, this study explores existing cost-pricing mechanisms to be employed in LECs that support energy prosumers and consumers to exchange energy. The identified cost-pricing mechanism can be useful for practitioners, policy makers, and researchers to ensure long-run benefits and improve energy policy and practice for rural electrification of future LECs. Additionally, the findings from this study identify the success factors needed for sustainable rural electrification in LECs.