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As the path of Hurricane Michael becomes more certain, Clay Electric is anticipating most of the damage to be in the Lake City and Gainesville district service areas. Clay... Continue Reading ›

The 2018 hurricane season begins June 1, and while forecasting agencies have predicted an above-average level of hurricane activity this year, it only takes one storm to cause... Continue Reading ›

Clay Electric Cooperative continues to monitor the storms in the western Caribbean as they are becoming better defined and will likely become a subtropical or tropical depression... Continue Reading ›

Clay Electric has recently seen a rise in reports of scam calls and misleading offers. The cooperative once again reminds its residential and commercial members that it does not... Continue Reading ›

On Apr. 9, 2018, Clay Electric honored the dedicated men who often work in challenging conditions to keep the lights on. The co-op proudly recognizes all electric linemen for... Continue Reading ›

A forecast team from Colorado State University has predicted a slightly above-average level of activity in the Atlantic basin this hurricane season. Phil Klotzbach and Michael... Continue Reading ›

What is the Power Cost Adjustment item on my electric bill?

  • A Basic Explanation.

    The Power Cost Adjustment is a separate line item on each Clay Electric bill statement which reflects the increases/decreases in the co-op's cost of power purchased wholesale from Seminole Electric Cooperative. The fluctuation in the Power Cost Adjustment is largely caused by changes in the cost of fuel for generation.

    The co-op's cost of wholesale power is now more than 70 percent of Clay's total expenses, so it's critical that the co-op makes sure that it recovers all of its wholesale power costs in its retail sales. The cost is collected from the co-op's members through the energy charge and the Power Cost Adjustment.

  • A portion of the co-op's cost of power is already included in the energy rate (commonly referred to as the base rate).

    Presently 6.0 cents per kWh is included in the base rate for the cost of wholesale power. When the cost of power is greater than the amount included in the base rate, the Power Cost Adjustment is a charge. When the cost is less, the Power Cost Adjustment is a credit. Clay Electric had a Power Cost Adjustment credit from 1996 until 2000. In more recent years, the cost of fuel used to generate the power we buy has exceeded the amount in the base rate. Therefore, the Power Cost Adjustment has been a charge.

  • Computing the Power Cost Adjustment.

    Each month's Power Cost Adjustment is established on the first billing day after management's review of Seminole's latest billing and projected power costs for the month.

    The Power Cost Adjustment on an electric bill statement is computed by multiplying the amount charged or credited by the number of kilowatt hours used. For example, if the amount charged is .02420, and 1000 kWh was used during the billing period, the Power Cost Adjustment would be a charge of $24.20.

  • Authorized by the Florida Public Service Commission.

    Power Cost Adjustments have been authorized by the Florida Public Service Commission since the 1973 Arab Oil Embargo to reflect changing fuel and wholesale power prices. Without Power Cost Adjustments, a utility's base rates would be constantly changing to reflect increases and decreases in the cost of power.