Understanding Your GEC Bill
1. Service address—This is the physical address where your meter is located. When discussing your account or reporting an outage, this is the address we will use.
2. Days in billing period—The number of days in the billing period has a direct impact on your total bill, so it’s important to take note of this when comparing your bill to a previous cycle.
3. Rate class—We have different rate classes such as residential, business and pump accounts, among others, that are based on electricity demand, system load and necessary infrastructure.
4. Kilowatt-hour charge—This is the rate at which your actual use is charged. For residential accounts, the first 1,000 kWh is charged at 10.25 cents per kWh. The kWh charge recovers not only the cost of electricity, but the cost of system infrastructure. To account for the higher capacity equipment needed for the additional demand on the system, use exceeding 1,000 kWh is charged at 14 cents per kWh. This rate structure encourages conservation and reduces the impact of prices on low- and fixed-income members.
5. Power cost adjustment—The power cost adjustment is based on the cost of fuel used to generate the electricity you use. The cost of coal or natural gas changes monthly. If the cost is different than budgeted, the savings or excess cost is reflected in this adjustment.
6. Tier tracker—To maintain a fiscally sound financial position, the cooperative aims to achieve a target operating margin over the course of a calendar year based on actual monthly data for prior months during the calendar year and estimated monthly data for the remaining months in the year. As necessary, the board of trustees may adjust this additional rate (currently at less than a penny per kWh), to achieve the required operating margins.
7. Base charge—This is a flat monthly fee to cover the part of the cost of operating the business that is not factored into the kWh charge. This amount is based on rate class.
8. Florida gross receipts—This is a 2.5641% tax imposed on the sale, delivery or transportation of natural gas, manufactured gas or electricity to retail consumers in Florida. The taxes collected are paid directly to the state of Florida.
9. Roundup amount—If you participate in Operation Round Up, your bill is rounded up to the next whole dollar amount and donated to Glades Electric Charitable Trust. Your monthly contribution will never exceed 99 cents. Individuals in need and local nonprofit organizations can submit applications to the Charitable Trust Board of Directors to receive assistance. If you don’t have a round-up amount on your bill and would like to be part of Operation Round Up, call Member Services at 863-946-6200 to join. Your pennies help change lives for those in need.
10. Payment terms—This section covers dates for which disconnection and late fees will be imposed, and other payment terms.
11. Monthly use—This chart allows you to visualize the fluctuations in your use during the past 13 months. You can easily compare your most recent month’s use to the same month in the previous year. We also calculate your average kWh per day and cost per day for the most recent month. This is helpful to compare to your previous bill to determine the actual change in your daily use from the prior month.
Your meter is read automatically. GEC reads your meter each month using an automated meter reading (AMR) system. Your meter sends a reading electronically over the power lines.