LCEC is pleased to announce that our electric rates are the fourth lowest amongst electric providers in the state of Florida as of the latest comparison released (April 2018). These recent industry benchmarks reflect LCEC’s operating expenses per 1,000 kWh sold as being in the lowest quartile nationwide, and one of the lowest amongst comparable cooperatives in the state.
Rate levels are determined through forecasting sales levels (expected revenue) compared to budgeted spending needs for operations, power supply, and capital investment in the electric infrastructure. When revenue is expected to be more favorable compared to spending, we pass those savings through to customers in the form of stable rates and sometimes a reduction. LCEC has decreased rates five times since 2014 and has not had a rate increase for 10 years in a row. This means that LCEC customers are paying less for electricity today than they were a decade ago!
“We are very pleased to be able to pass through operating and power cost savings to our customers,” LCEC CFO Denise Vidal said. “LCEC continually strives to contain costs in order to keep rates competitive, while providing excellent reliability and customer service.”
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