Clay Electric lowers rate

Clay Electric Cooperative said it is lowering the power cost adjustment it charges members beginning in December.

The co-op said in a news release that members using the industry household average of 1,000 kWh of power a month will now pay $149.90.

“The previous cost was $159.50,” the utility said. “The cooperative is able to lower the cost of power due to a slight decrease in the price of natural gas, which Seminole Electric Cooperative: Clay’s wholesale power provider uses to generate a sizable portion of the wholesale electricity it provides.

“We’re pleased to be able to lower the PCA in time for the holidays,” said General Manager/CEO Ricky Davis.

The power cost adjustment is a separate line item on each Clay Electric statement, which reflects increases and decreases in the co-op’s cost of power. The utility said the cost of wholesale power is more than 70 percent of Clay’s total expenses.

“When the cost of power is greater than the amount included in the base rate, the PCA is a charge,” the co-op said. “When the cost is less, it’s a credit.”