Local news- Press Release
Edmond Oklahoma - Increased energy costs result in adjustment to Edmond Electric FCA rate 30 September 2022 ( news )
Edmond , state Oklahoma ( By Press Release office)
| 11| 2
Beginning in October , Edmond Electric customers will notice a change in the Fuel Adjustment Cost ( FCA ) rate on their monthly utility bills .
The FCA is a fee charged per kilowatt hour ( kWh ) used to help recover the cost of purchasing wholesale electricity . The rate is set based on market costs and , between June 2021 and June 2022 , electricity prices across Oklahoma rose 48 percent . The largest driver in that rise is the cost of natural gas , which has risen more than 50 percent in a year .
&nbs......p; Because of that , the FCA on Edmond Electric services will be set at 2 . 5 cents per kWh beginning in October . That fee is separate from the fee for normal electricity usage , which is 8 . 51 cents per kWh .
“The FCA is how we collect revenue needed to cover the cost of purchasing the energy from the wholesale market , ” said Glenn Fisher , Edmond Electric Director . “This is the energy we distribute to our retail customers . Right now , we are seeing unusually high wholesale market prices for energy , and so we have made the adjustment to cover that cost . But , when we see the market readjust and lower , that FCA rate will drop too . It’s important for our customers to understand that the FCA is not a source of revenue for Edmond Electric . It is just a pass through of the costs of acquiring the wholesale energy . ”
Still , as costs across the state and nation continue to rise , it is as important as ever customers do what they can to help manage their usage and help reduce their costs . There are several ways customers can help achieve that , including:
Cooling costs are typically 60 percent of your total utility bill . For every degree you set the thermostat below 78 degrees , you use 2 to 5 percent more electricity .
Turn off lights in any room you’re not using or consider installing timers or sensors to reduce the amount of time your lights are on .
Remember to clean the coils on your refrigerator .
Clear outdoor air conditioning units and heat pumps of debris and shrubbery so they can work more efficiently .
You will conserve energy by turning off or using sleep mode for any computer not in use for two hours or more .
Lower the temperature on your water heater . A setting of 120 degrees Fahrenheit provides comfortable , hot water for most uses . And installing an insulating blanket on your electric water heater should pay for itself in less than a year .
For more information about energy use in Edmond and , more specifically , in your home , call Edmond Electric today and schedule a free home energy audit which could save you money with the energy saving tips custom to your home . That number is 405 - 216 - 7608 .