CHELCO’s Rate Adjustment Update

CHELCO Announces First Distribution Rate Increase In Over A Decade

DeFuniak Springs , FL – Choctawhatchee Electric Cooperative, Inc. (CHELCO) recently announced it will make its first residential distribution rate adjustment in 11 years. The adjustment will be effective May 1, 2024, and will be reflected beginning on June bills.

For CHELCO residential members, the Basic Service charge portion of their monthly bill will increase by $3, from $26 to $29. Additionally, the adjustment includes a Distribution Cost Adjustment (DCA) increase of 0.1742 cents per kilowatt-hour (kWh), bringing the total DCA charge to 0.3272 cents per kWh. For example, a member who uses 1,000 kWh can expect an increase of $4.74 per month. This equates to an increase of approximately 3.5%.

CHELCO CEO Steve Rhodes first announced the adjustment to members at their annual meeting on Saturday, April 6.

Since the last distribution rate adjustment in 2013, inflation has increased by 33%, dramatically affecting the cost of materials, equipment, commodities, and labor.

“CHELCO’s rates are consistently among the lowest of electric cooperatives in Florida and Alabama,” Rhodes said. “That distinction will not change with this modest increase.”

CHELCO is a not-for-profit electric distribution cooperative serving more than 64,000 accounts in Walton, Okaloosa, Holmes and Santa Rosa counties.