West Florida Electric Cooperative (WFEC) is proud to announce a difference in your monthly electric bill caused by a decrease in fuel costs to our power supplier, PowerSouth Energy Cooperative. This reduction in rate components took place January 28, 2021.
WFEC’s power cost adjustment is changing from -$6.83 per 1,000 kilowatt hours (kWh) to -$14.08 per 1,000 kWh. This means that the average WFEC member (with a 1,500 kWh monthly electric bill) will notice a net decrease of about $10.87 on their monthly electric bill.
A power cost adjustment is a modification on a member’s monthly electric bill caused by an increase or decrease in the cost of an electric utility’s fuel supply. This cost fluctuates as fuel costs increase or decrease and is adjusted semi-annually.
At this time, fuel costs are lower than anticipated or projected, so the charge decreased and these savings are being passed along to WFEC members. As the price of fuel changes, so will this charge.
The Board of Trustees and Executive Vice President and CEO, Ty Peel, are very pleased to pass these savings along to WFEC’s membership at this time