CLAY COUNTY, Fla. — Clay Electric Cooperative announced Wednesday that it will implement a rate increase starting in August due to a spike in costs.
Members using the industry household average of 1,000 kWh per month will see their bills increase by $10, bringing the total to approximately $148.
The rate increase will be reflected in the Power Cost Adjustment (PCA) on member billing statements. The PCA is a separate line item that adjusts based on the co-op’s wholesale power costs, either as a charge or a credit.
As a not-for-profit company, the co-op provides service at cost.
The increase is largely driven by the forecasted rise in natural gas prices, which is the dominant fuel source for electricity generation in Florida. Clay Electric said alternative energy sources currently lack the consistency and scale needed to meet daily electricity demand in Florida.
Clay Electric customers recently avoided an increase to the unincorporated county-wide utility tax. The idea was shot down by a vote in early July, but could come back in another form soon as county commissioners seek to balance the budget.
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