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Cape Coral Electric Services
First and foremost, the City wants to ensure Cape Coral customers are paying reasonable rates, and not being overcharged or subsidizing other service entities in LCEC's territory. Read the PSC filing to see why this is a concern for the City.
Information Articles from 'On The Move"
As we determine facts and information related to electric service, the City will provide this information to our citizens via our quarterly community newsletter. Here are the specific articles published in the recent issues of "On The Move."
City Pursuing Options for Electric Service
City's 30-year franchise agreement with LCEC expires in September 2016; City evaluating all options for electric service including municipal electric utility.
Cape Evaluating Pros and Cons of Electric Service
City continues to request important financial information from LCEC to complete due diligence for Cape Coral customers.
Citizens Want Best Electric Services
Citizen Survey showed wide support for variety of service enhancements.
LCEC Stalls City's LED Streetlight Demonstration Project
City asked for side-by-side display on energy-saving options that could save $1 million annually in lighting costs.
UPDATE: LCEC eventually set up the display after news stories focused on the issue.
UPDATE #2: Unfortunately, LCEC has decided to keep all of the energy savings from LED conversion and will continue to charge their existing higher electric rates to the City (aka taxpayers).
Electric Services is $10 Billion Decision
Cape Coral customers currently provide about $200 million annually in revenue to LCEC; Using practical assumptions, another 30-year contract could approach $10 billion.
Your Equity Account Balance is Available from LCEC
LCEC continues to collect and hold more than $340 million in "member" equity; however, active customers will only receive about 10% of their equity balance (as small equity disbursements) while being served by LCEC. LCEC keeps about 90% of what they overcharge their customers for electric service. Read this article to find out how to get your equity balance from LCEC and see how much of your money they are holding.
Cape Customers Pay Millions More for Electric Service than FPL Customers
LCEC's higher rates have cost average LCEC customer about $1,500 over past seven years. Cape Coral customers have paid about $213 million over these past seven years.