Cape Coral Applauds LCEC Decision to Lower Rates
The City of Cape Coral is applauding the news that LCEC has decided to reduce their Power Cost Adjustment rate and pass along more of their power cost savings to LCEC customers. LCEC announced they were reducing the PCA rate (not base rates), which will lower the average monthly bill (1,000 kWh) from $106.55 to $102.50.
“We have been urging LCEC to make their rates more competitive with FPL, and this is a step in the right direction,” said Public Affairs Manager Connie Barron. “While LCEC’s average bill still remains higher than FPL’s average bill, we are pleased that LCEC is listening to our call to lower the electric costs to our Cape Coral customers.”
In addition to FPL, there are several municipal electric utilities in Florida that have a lower monthly bill than LCEC’s when using an apples-to-apples comparison. The average bill for MEUs includes the equivalent franchise fee, known as ‘payment in lieu of franchise" in the base rates. Putting LCEC’s bare bones average electric bill up against a fully loaded community-owned utility's average bill skews the comparison. For a fair comparison, these payments should be backed out.
“Again, we applaud LCEC for lowering the PCA rate and the customer’s overall monthly electric bill,” said Barron. “Our goal is to make sure our Cape Coral residents and businesses receive the best electric service at the best price.”
For factual information and updates on the City's electric service options, visit our special Cape Coral Electric Services page.