S EP T E MB E R
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2023
DEAR MEMBERS, I have great news to share with you this month – Hot Bucks are back and reduce the residential bill to the lowest cost in the last five years! SECO Energy is happy to announce a significant reduction on your electric bill. Hot Bucks (which is known formally as the PCAshort for Power Cost Adjustment) will display as a line item on your monthly billing statement. The credit will appear on bills beginning October 1 to reflect prior period usage from September. SECO’s Hot Bucks are a direct reflection of the price variation the cooperative pays for power purchased from Seminole Electric Cooperative. Natural gas is the main fuel source for power generation and a continued downward trend in price is projected as we move into the latter part of the summer. In alignment with Seminole’s projections, SECO’s Board of Trustees approved changing the PCA to lower our members’ bills. Both SECO and Seminole are not-for-profit cooperatives that work closely to ensure the lowest rates possible for our members. When the wholesale cost of
purchased power decreases, SECO passes those savings along to you. The Hot Bucks credit will reduce SECO Energy’s cost for residential service per 1,000 kilowatt hours (kWh) from $146.60 to $116.60 with bills generating as of October 1. The chart below compares SECO Energy’s residential cost for 1,000 kilowatt hours (kWh) with other Florida utilities. This reduction places SECO Energy's cost per kWh in a competitive position: lower than the average Florida Investor-owned, Municipal and Cooperative utility. Our Mission, as a not-for-profit cooperative is to provide reliable and innovative energy services to our members and communities. Ensuring affordable energy service is a key component to fulfilling our role as your trusted source for energy solutions.
Best regards,
Curtis Wynn
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• Emergency Operations • StormCenter SEPTEMBER 2023 | SECO NEWS
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