LCEC continually strives to contain costs in order to keep competitive rates, but at the same time we are focused on providing reliable electricity and quality customer service.
Recent industry benchmarks reflect LCEC’s operating expenses per kWh sold are in the lowest quartile nationwide (and in this case…low is good!), and lowest among comparable electric cooperatives in Florida. LCEC is proud to have earned such good marks for several years now.
Benchmarks are all well and good but when they lead to competitive rates, that is even better!
The most recent LCEC electric rate decrease, implemented in July, was primarily driven by favorable power costs combined with operating cost savings over the last few years. This positioned LCEC for the fifth rate decrease in less than three years.
Rates 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, LCEC passes those savings on to customers in the form of a rate decrease. After all, we are not in business to make a profit — we are here to deliver reliable electricity at the lowest rate possible.
Our vision is to energize our communities to help ensure they thrive for years to come, so everything we do at LCEC aligns with that core mission. As we reach our goals, we find ourselves raising the bar and working more diligently to improve the service to all of our members.
The extremely warm weather over the past few years has also impacted sales favorably making the way for reduced and competitive rates. Customer growth has been steady and is contributing to the higher sales levels as well.
Although nowhere near the growth rates we saw in the “boom” years, it would appear Southwest Florida is again a desirable location for those wanting to escape the cold northeast winters and enjoy all we have to offer – including LCEC low electric rates!