BY DAN HILDEBRAN
Clay Electric Cooperative reported a 12% decrease in revenue in 2023, which resulted in a 30% drop in the utility’s margin for the same period.
The member-owned power provider said its 2023 energy sales totaled $404 million, down from $457 million in 2022. The co-op’s margin decreased to $18.8 million in 2023, down from $26.8 million the previous year.
Much of the revenue decrease was due to the cooperative lowering the power cost adjustment it bills members. CEO and General Manager Ricky Davis said the co-op lowered the cost of power to its members by 20% during the year due to the PCA decrease.
