During our March 31, 2025, Board of Trustee meeting, SECO leadership approved a 9.17% total system increase in member rates. This decision follows a recent comprehensive cost-of-service study that included a routine analysis of plant facilities, expenses, financial forecasts, and revenue requirements. The study indicated that the current rate structure needs to be updated to align with our growing membership and rising operational expenses.
This adjustment will go into effect on May 1, 2025, pending approval by the Florida Public Service Commission (PSC). For households consuming an average of 1,000 kilowatt hours (kWh) per month, this will equate to an increase of approximately $10 – $12 per month. Please review our FAQs below.
Since our inception in 1938, one consistent theme that has rung true for SECO Energy and the communities we serve has been growth. As our service areas have expanded, our charge has been to uphold our mission of providing reliable and innovative energy services, while upholding our core values.
“Growth and rising costs have been a constant for us over the past several years,” said SECO Energy CEO Curtis Wynn. “As our region continues to grow, we are making significant investments in our facilities infrastructure to ensure the reliability and sustainability of our electric service.”
Over the past 25 years, the number of members we serve has grown from 100,000 to over a quarter million. As a not-for-profit cooperative, SECO prioritizes financial responsibility and member value. Smart, responsible growth and system maintenance require substantial capital investment in grid enhancements which include new substations, transmission lines, and distribution networks to maintain reliable service. SECO now adds roughly 1,500 new accounts per month.
While rate adjustments are never taken lightly, they are necessary to ensure the continuous reliable service our members expect. As a not-for-profit organization, SECO doesn’t make these decisions to benefit distant shareholders – we make them to secure the future of the cooperative that belongs to you, our members.
Since the United States government signed the Rural Electrification Act (REA) into law in 1935, rural areas around the country have been able to gain access to electricity. In 1938, Sumter Electric Cooperative, Inc. (d.b.a. SECO Energy) turned on the lights for approximately 400 rural farms near Webster, FL. Today, we’ve grown from a rural farming community to a thriving area in the nation’s fastest-growing region, continually adapting to meet growing demand while maintaining our commitment to reliable energy services.
“Over the past 87 years, SECO Energy has grown alongside our communities, consistently adjusting to meet growing demand for our service,” said Wynn. “As we’ve added new members, we’ve expanded our infrastructure, upgraded technology, and enhanced service reliability to support both existing and new members – and as our membership continues to grow, we will keep investing responsibly in our cooperative.”
We appreciate our members’ understanding and support as we continue investing in a strong, resilient electric system for the future.
SECO Energy Rate Adjustment FAQs
For households consuming only the base 1,000 kilowatt hours (kWh) per month, this adjustment will equate to an increase of approximately $10 – $12 per month.
This adjustment will go into effect on May 1, 2025, pending approval by the Florida Public Service Commission (PSC).
There are many factors that affect rate adjustments. However, this adjustment was driven by the growth of SECO and its membership. Over the past 25 years, the number of members we serve has increased significantly – growing from 100,000 to over a quarter million. SECO is consistently building and improving our infrastructure to pace with the growing demand of our service areas while continuing to provide the reliable service our members expect. The materials, equipment, and skilled labor required to maintain our system have seen significant price increases over recent years, and a recent cost-of-service study revealed that we must adjust our rates to align with the ever-growing costs of providing our service.
SECO is a member-owned cooperative, and our members have come to expect a certain level of reliability and service. To maintain that level of service, SECO is constantly investing in infrastructure improvements, technology upgrades, and workforce development – all essential components of delivering safe, reliable power to our expanding community. In short, our members have told us that they are unwilling to compromise the high level of reliability and service that we provide, and as costs rise, our rates must adjust to reflect those costs.
Even after this rate adjustment, SECO’s residential member bills remain lower than most other Florida Utilities.
Over the last decade, SECO members have benefitted from the not-for-profit cooperative’s extensive measures to improve electric service reliability and affordability. Central Florida has experienced unprecedented damage from hurricanes, storms, and tornadoes, driving up operating and maintenance costs for SECO and other utilities.
The costs of poles, wire, transformers, meters, and other equipment that is essential to the distribution of electric service are rising at an alarming rate. The results of the recent cost-of-service study show that a rate adjustment is necessary to continue to maintain infrastructure and reliable electric service.
A cost-of-service study (COSS) is a comprehensive financial analysis that determines the actual cost of providing electricity services to different types of members or customer classes. It's a critical tool for electric cooperatives to ensure their rates are fair, equitable, and sufficient to cover operational expenses. SECO’s COSS was performed in conjunction with independent industry experts.
SECO initiates a COSS every 2-3 years, allowing us to regularly assess our rate structure and ensure that all member rates remain equitable and sustainable given our current and expected future growth. As the severity of named storms and hurricanes increases, it is our duty to our members to remain in a position to respond quickly to our member’s needs.
SECO Energy is a member-owned not-for-profit, meaning that each service district elects its own representative to our Board—citizens who actually live in homes powered by SECO’s electricity—ensuring our organization is truly steered by its members.
Rather than maximizing profits for external shareholders like a for-profit, investor-owned utility company, SECO focuses on covering its operational costs and maintaining the electrical infrastructure that service its communities. Any “extra” capital that is left after covering operational costs is returned to members in the form of capital credits. SECO has been able to return over $80 million to its members since our inception.
SECO recognizes that the energy needs of every household vary, so we have compiled Energy Saving Tips for our members so that you can conserve energy in the way that works best for your home. SECO’s Energy Estimator shows you the math behind your energy usage for common appliances and electronics. SECO also offers Budget Billing that levelizes your monthly energy expenditure and prepaid accounts that allow you to pay for your energy consumption before use.
Through SmartHub, SECO’s online account management platform, you can set high usage alerts, review consumption history, and build a home profile that will give you better information on the amount of energy your home’s appliances and electronics consume.
If you need bill payment assistance, please visit our Find Bill Payment Help interactive map to find a social service agency near you. To contact local United Ways, dial 211.
For questions about energy efficiency and how to reduce your monthly kWh consumption, please contact us.
