April 2016
As you opened your March billing statement, I hope you were pleasantly surprised to see that SECO Energy’s “Hot Bucks” are hotter than ever. In fact, as of March 1st, residential members are now paying $114.60 based on 1,000 kWh, which is average usage for residential members in our area. Over the past 27 months, SECO Energy has lowered the cost of electricity seven times; this latest reduction equates to a 10.3% decrease over this time frame. The reduction appears as a credit on your bill under the line item “Hot Bucks.” The term refers to the Power Cost Adjustment (PCA) portion of your bill.
BILL DECREASE JAN ‘14
NOV ‘14
JUN ‘15
(1,000 kwh) AUG ‘15
OCT ‘15
Jim Duncan, CEO DEC ‘15
MAR ‘16
SECO $127.75
$120.70
$118.20
$117.20
$116.20
$115.60
$114.60
We work closely with our wholesale power provider, Seminole Electric, to ensure that we offer members the lowest rate possible and still eke out a small margin (required of us as a not-for-profit electric cooperative). When the wholesale price goes down, usually due to reduced fuel costs, SECO Energy lowers the PCA factor and members see their bills decrease. As a not-for-profit electric cooperative, when wholesale power costs are lower, SECO Energy shares the savings with members. Lowering the cost of power is a joint effort between SECO Energy’s Board of Trustees, our employees and our wholesale power provider, Seminole Electric Cooperative.
Hotter Bucks = Lower Bills
Energy has lowered your electric cost seven times in two years.