Clay Electric lowers power cost by 5.3% in July

Press release from Clay Electric Cooperative

KEYSTONE HEIGHTS, Fla. – Clay Electric Cooperative is lowering the cost of power for its members by 5.3 percent in July. This means members using the industry household average of 1,000 kWh of power will pay $123, a $7 savings. The previous cost was $130.

The cooperative is able to lower the cost of power due to the decreasing price of natural gas, which Seminole Electric Cooperative (Clay’s wholesale power provider) uses to generate a sizable portion of the wholesale electricity it provides Clay and eight other distribution cooperatives in Florida.

“Our lower power cost comes as a result of our power supplier continuing to purchase fuel at the lowest possible price,” said General Manager Ricky Davis.

The lower cost of power will be reflected in a lower Power Cost Adjustment (PCA) on members’ power bills in July. The amount of savings for each member will vary based on how much electricity is used.

The PCA reduction will mark the third time this year Clay Electric members have had a lower power bill. In March and April, the co-op lowered the cost of power by 11 percent. Also in March, Clay Electric members were refunded $12 million in Capital Credits, and entitled members saw a credit on their bill.

A rate study indicated the cooperative should increase its Access Charge to recoup more of the fixed costs associated with building and maintaining the distribution system. The Access Charge is being increased to $32 beginning in July. The Access Charge is the component of a member’s bill that recovers some of the fixed costs that come directly from serving an individual member, regardless of how much electricity is used. These costs include the cost of the meter, wire, and other equipment used to deliver electricity to the home or business, as well as meter reading technology and billing expenses. All utilities have some type of access charge.

Clay Electric Cooperative is an incorporated, member-owned, not-for-profit electric power supplier. Headquartered in Keystone Heights, Clay Electric Co-op serves more than 189,700 member-owned accounts in 14 counties. The cooperative has six district offices: Keystone Heights, Orange Park, Lake City, Gainesville, Salt Springs and Palatka.

  • Imagine that, one utility provider giveth and one taketh away. Tells me one is much more capable of managing their budget than the other.

    If given the choice, which would you rather have?

  • As prices started to spiral out of control with GRU and Alachua County, we decided to buy in a neighboring county four years ago where Clay Electric serves. Needless to say we’ve never regretted it for a moment, especially when we get our Clay utility bill during the summer months. That’s unlike my fleeced friends living in Gainesville.

  • “The PCA reduction will mark the third time this year Clay Electric members have had a lower power bill.”

    When customers are served rather than causes……and….Gainesville Residents United are suing the State for HB 1645? The residents are victims of the State, not GRU? Is the Earth flat?

  • Great! Now will GRU being giving us the same break?? Oops…..that’s right….they decided to pay an extra 2 million on higher bond rates and $ 250K to fight to keep their ratepayer cookie jar to make our rates even higher. Idiots!

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