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A business owner served by Clay Electric in the Orange Park area called to report that he received a phone call from someone who claimed the owner had not paid his August electric... Continue Reading ›

As of 5 p.m. Monday, 99 percent of our members have had their electric service restored.  Clay Electric has all available resources in the Gainesville District to... Continue Reading ›

Clay Electric’s crews and contract line and tree trimming crews remain fully deployed for final Hurricane Irma power restoration. Sunday, 1,000 crew members from eleven states are... Continue Reading ›

Clay Electric Cooperative understands the difficulties that members experienced in the wake of Hurricane Irma. The hurricane brought destruction and power outages to North Florida... Continue Reading ›

Saturday afternoon, 93 percent of Clay Electric Cooperative’s members have power. At 3:45 p.m., 12,370 (7%) of its members remained out of power. The cooperative’s... Continue Reading ›

As of Saturday morning, Clay Electric Cooperative has about 17,900 (10 percent) of its members out of power. The cooperative’s restoration workforce surpasses 1,100 field... Continue Reading ›

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What is the Power Cost Adjustment item on my electric bill?

  • A Basic Explanation.

    The Power Cost Adjustment is a separate line item on each Clay Electric bill statement which reflects the increases/decreases in the co-op's cost of power purchased wholesale from Seminole Electric Cooperative. The fluctuation in the Power Cost Adjustment is largely caused by changes in the cost of fuel for generation.

    The co-op's cost of wholesale power is now more than 70 percent of Clay's total expenses, so it's critical that the co-op makes sure that it recovers all of its wholesale power costs in its retail sales. The cost is collected from the co-op's members through the energy charge and the Power Cost Adjustment.

  • A portion of the co-op's cost of power is already included in the energy rate (commonly referred to as the base rate).

    Presently 6.0 cents per kWh is included in the base rate for the cost of wholesale power. When the cost of power is greater than the amount included in the base rate, the Power Cost Adjustment is a charge. When the cost is less, the Power Cost Adjustment is a credit. Clay Electric had a Power Cost Adjustment credit from 1996 until 2000. In more recent years, the cost of fuel used to generate the power we buy has exceeded the amount in the base rate. Therefore, the Power Cost Adjustment has been a charge.

  • Computing the Power Cost Adjustment.

    Each month's Power Cost Adjustment is established on the first billing day after management's review of Seminole's latest billing and projected power costs for the month.

    The Power Cost Adjustment on an electric bill statement is computed by multiplying the amount charged or credited by the number of kilowatt hours used. For example, if the amount charged is .02420, and 1000 kWh was used during the billing period, the Power Cost Adjustment would be a charge of $24.20.

  • Authorized by the Florida Public Service Commission.

    Power Cost Adjustments have been authorized by the Florida Public Service Commission since the 1973 Arab Oil Embargo to reflect changing fuel and wholesale power prices. Without Power Cost Adjustments, a utility's base rates would be constantly changing to reflect increases and decreases in the cost of power.