BY DAN HILDEBRAN
Clay Electric Cooperative said that starting in June, members will see a $3 increase in the Power Cost Adjustment (PCA) and a $3 increase in the Access Charge.
“This change is driven by several factors,” the co-op said in a news release, “including material costs, which have surged — transformer prices are up over 200 percent since 2019, and overhead wire costs are up 121 percent. Supply chain uncertainties have also led the co-op to triple its inventory value to ensure a quick response when needed.”
The utility added that natural gas prices, which directly impact the PCA, continue to rise.
“On top of that,” the co-op said, “last summer’s hurricanes caused over $20 million in damage. While we expect around $15 million in FEMA reimbursement, a significant cost remains.”
The nonprofit said that General Manager and CEO Ricky Davis first discussed the potential change at the Annual Meeting in March.
“These adjustments help ensure Clay Electric can maintain reliability, manage ongoing cost pressures, and support long-term stability,” the co-op said.
