A Power Cost Adjustment increase will be implemented for LCEC customers beginning Feb. 1.

The increase is the result of rising purchased power costs passed on from the LCEC power supplier, Florida Power and Light, co-op officials said.

“PCA charges are based on projected costs for purchased power,” LCEC said in a release issued today. “When purchased power costs decline the PCA is decreased. This is the first increase since 2014. There have been five PCA decreases during that time. There are no margins (profit) earned on the PCA. The cost of power makes up more than 70 percent of the LCEC bill.”

“Even with the power cost adjustment, LCEC rates remain among the lowest in the region and rates are the same as they were in 2008,” the release states.

“LCEC customers have not seen a base rate increase in 13 years. The base rate is the portion of the bill that LCEC is able to manage through efficiencies, technology, and a close watch on the bottom line.”

LCEC provided the following comparative electric rates for residential customers with average usage of 1,000 kWh, beginning Feb. 1:

LCEC: $109.50

Florida Power and Light: $113.85

Tampa Electric Company: $120.86.

Duke Energy Florida, Inc.: $132.24.

In addition, LCEC said it returns equity to customers. LCEC has returned more than $303 million in equity to customers, which results in a net lower monthly cost, the release states.

Source: LCEC