Data collected by Seminole Electric Cooperative, Clay Electric’s wholesale power provider, suggests a spike in costs associated with providing reliable electricity. It’s led your cooperative to implement a rate increase, which will first be reflected on August member billing statements in a Power Cost Adjustment (PCA).

Beginning in August, members using the industry household average of 1,000 kWh/month will now pay approximately $148, an increase of $10. The additional amount each member pays monthly varies based on how much electricity is used.

The increase is largely driven by the forecasted rise in the cost of natural gas, which remains the dominant and most reliable fuel source for generating electricity in Florida. Alternative sources simply don’t yet offer the consistency or scale needed to meet daily demand across the state.

The PCA is a separate line item on each Clay Electric billing statement, which reflects either an increase or decrease in the co-op’s wholesale cost of power. When the cost of power is greater than the amount included in the base rate, the PCA is a charge; when the cost is less, the PCA is a credit. In 2023, Clay Electric was able to lower the cost of your power four times through PCAs.

Remember, members receive power at cost as Clay Electric is a not-for-profit cooperative. The Power Cost Adjustment ensures you’re only paying real-time wholesale power costs on a month-by-month basis.