Clay Electric personnel continues efforts Wednesday evening, July 7, to restore service to members who were impacted by Tropical Storm Elsa. As of 8 p.m., 1,836 members remained... Continue Reading ›

Clay Electric Cooperative is grieving for a lost friend and co-worker. Lineworker William “Ziggy” Ziegenfelder, 56, passed away while working in the co-op's Gainesville service... Continue Reading ›

Vehicles from our fleet are currently up for auction online and more will be available in the coming weeks. Three auctions will take place; two will feature small fleet vehicles... Continue Reading ›

A forecast team from Colorado State University has predicted an above-average level of activity in the Atlantic basin this hurricane season. The CSU Tropical Meteorology... Continue Reading ›

The 83rd Annual Meeting video report is now available. You’ll hear remarks from the president of the Board of Trustees, Susan Reeves; General Manager Ricky Davis' report; and the... Continue Reading ›

Due to ongoing concerns surrounding the spread of coronavirus, the co-op has made the difficult decision to cancel the gathering portion of Annual Meeting for the second year in a... Continue Reading ›

Clay Electric announces power cost decrease

For November and December, members of Clay Electric Co-op who use 1,000 kilowatt hours of electricity will see their power bill decrease by $3.50.

Last month, the co-op charged $116.80 for 1,000 kilowatt hours of electricity. This month, thanks to a lower Power Cost Adjustment, the cost will drop to $113.30, a savings of $3.50. The PCA decreased from 0.0235 to 0.0200.

This is the third decrease in the cost of power for Clay members this year. The first decrease occurred in July and the second occurred in September. The total decrease for the year is $9.60.

“We’re pleased to have been able to lower the cost of power three times this year,” explained General Manager/CEO Ricky Davis.

With this month’s drop in the PCA, Clay Electric’s cost for 1,000 kWh is the second lowest rate among the 15 electric cooperatives in Florida. Clay Electric is also lower than many of its neighboring utilities.

WHAT IS A POWER COST ADJUSTMENT?

Electric utilities commonly use a Power Cost Adjustment to help them recover a portion of their wholesale energy costs that aren’t covered in their base rates. The Florida Public Service Commission authorized utilities to use a Power Cost Adjustment following the Arab Oil Embargo in the early 1970s. Back then, utilities relied more heavily on oil for power generation.

Clay Electric’s base energy rates are designed to recover an estimated amount of power cost each month. However, because generating costs fluctuate, the amount Clay pays Seminole Electric Co-op (Clay’s wholesale power provider) may be greater or less than the estimated cost Clay’s base rates are designed to capture. Because the actual power cost each month is different from the base rate, the power cost adjustment (PCA) helps Clay collect the difference.