LCEC reduces rates for the third time in less than two years
LCEC is reducing its electric rates for the third time in less than two years, resulting in residential electric rates officials say are among the lowest of all 56 utilities in Florida, and the overall lowest for electric cooperatives in the state.
The LCEC Board of Trustees unanimously approved the decrease earlier this morning. Beginning in July, LCEC’s residential customers will see rates decrease by 2.1 percent, bringing the cost of a typical 1,000 kilowatt-hour residential bill to $108.45. This is 11.6 percent lower than the average electric rate of all Florida electric cooperatives, municipal utilities, and investor-owned utilities, officials said in a prepared statement released Thursday.
“As a not-for-profit electric cooperative, LCEC is not motivated by profit but by service to its customers throughout the region,” said Chief Executive Officer Dennie Hamilton in the statement. “For 75 years, our employees have been committed to managing a highly effective and reliable electric system with the lowest possible rates.”
This is the second rate decrease this year for LCEC customers, who have not seen an increase in more than seven years. This most recent rate decrease is the result of power cost savings that are being passed along to customers.
“We’re able to offer low rates and strong reliability because of the efforts of our employees, many of whom are LCEC members themselves, and the management of our board of trustees,” said Hamilton. “We remain laser-focused on providing excellent service and competitive rates while continuing to maintain and upgrade the electric system.”
Customer support is also an important factor in managing costs, officials said.
“Customers are doing their part when utilizing green payment methods, paying on time and waiting to run appliances and equipment during off-peak periods (before noon and after 9 p.m. during the summer and between 10 a.m. and 6 p.m. in the winter),” according to the statement.
Established in 1940, LCEC is a not-for-profit electric distribution cooperative serving Cape Coral, North Fort Myers, Marco Island, Sanibel and Captiva Islands, Pine Island, Everglades City, Immokalee, Ave Maria, and parts of Lehigh Acres. LCEC is committed to providing efficient, reliable, cost-competitive electric and emerging energy solutions and excellent service to our customers. LCEC is also a major contributor to the local economy as one of the largest employers in Lee County with nearly 375 employees and by its support of many local agencies through charitable giving, volunteerism and environmental stewardship.
– Source: LCEC