387500
June 2015
are getting “hotter”! Dear SECO Energy members, It is my pleasure to let you know the “Hot Bucks” credit that appears on your bill is getting “hotter” starting June 1st. Unless you’re a used car salesman, it’s rare these days to tell a consumer that the cost of anything is dropping, so I’m proud to deliver this message to you, our members, on behalf of the Board of Trustees and employees of SECO. The term “Hot Bucks” actually represents a decrease in one of the components of your bill – the PCA or Power Cost Adjustment. The PCA provides SECO with a factor to accurately bill you for the fluctuating cost of wholesale power. When power costs are high, the PCA is typically a positive factor, calculated on your actual usage to determine your bill amount. When power costs are low, as they have been over the last 18 months, the PCA is a negative factor, creating a decrease on your bill. In order to provide stable and low rates to our consumers, SECO takes a conservative approach to any PCA changes. As you can see from the chart below, SECO Energy members have realized significant decreases in bills (based on 1,000 kilowatt hours or kWh) since early 2014. You’ve experienced a 7.5 percent decrease in your bill over the last 18 months due largely to a lower cost of wholesale power from our “generation and transmission” provider, Seminole Electric Cooperative.
JAN 2014
OCT 2014
Based on 1,000 kWh
$118.20
$120.70
$130 $128 $126 $124 $122 $120 $118 $116 $114 $112
$127.75
Bill Decrease
JUNE 2015
To give you the bigger picture, Seminole generates power for more than 1.4 million cooperative members of nine distribution cooperatives (like SECO Energy) across 42 counties in Florida. As a not-for-profit electric cooperative, SECO Energy’s average residential rates are lower than Florida municipal utilities’ average rates and are among the lowest of the investor-owned utilities in the state. SECO employees play a role too, as they are keenly focused on controlling costs so that your rates remain low. We are also committed to an extremely high level of reliable energy delivery and customer service. We do the right thing, and we don’t cut corners. Our expertly designed, soundly constructed and well-maintained electric infrastructure is built to stand up to adverse weather conditions. And our front-line employees – whether answering phones, calculating usage or braving storms to restore power during rare disruptions – are local people who care about the quality of service you receive. These folks are your neighbors, friends, coworkers and in some cases, family members. We live, work and play in the communities we serve. We stand ready to help when you need us. Though the SECO system spans more than 2,000 miles across seven Central Florida counties and distributes power to more than 190,000 meters, our employees and members are a tight-knit community of people who care about each other’s well-being and pocketbooks. Keeping your bills low, satisfaction high and power on are SECO’s highest priorities. Thank you for the privilege of serving your family’s energy needs. Best regards, Jim Duncan, CEO