HomeBusinessCost of power lowered $10 per 1,000 kWh for Clay Electric members
Cost of power lowered $10 per 1,000 kWh for Clay Electric members
December 2, 2022
Press release from Clay Electric
GAINESVILLE, Fla. – Clay Electric members will be billed less for power in December, thanks to a reduction in the Power Cost Adjustment on bills. Members using the industry household average of 1,000 kWh of power will now pay $149.90. The previous cost was $159.50. The cooperative is able to lower the cost of power due to a slight decrease in the 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.
“We’re pleased to be able to lower the PCA in time for the holidays,” said General Manager/CEO Ricky Davis.
The PCA is a separate line item on each Clay Electric statement, which reflects the increases/decreases in the co-op’s cost of power. The cost of wholesale power is more than 70 percent of Clay’s total expenses.
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, it’s a credit.
As a not-for-profit cooperative, Clay Electric members receive power at cost.
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