SECO Energy, a cooperative utility in Central Florida, has announced that the switch to LED technology has resulted in an increase in rates for its customers. The energy cooperative, which serves over 240,000 homes and businesses in seven counties, including The Villages, cited material costs and supply chain shortages as the reason for the rate hike.
In a news release, SECO Energy explained that the shift towards LED technology is more efficient and longer lasting but has resulted in higher costs. As a cooperatively structured utility, individuals and businesses share in the benefits and costs of SECO Energy through their energy purchases and additional energy services. The cooperative emphasized that the increase in rates was necessary due to the rising costs of LED lighting fixtures and poles.
Customers of SECO Energy are advised to expect higher monthly rates for lighting services with additional increases in pole rental costs set to be implemented later this year. The cooperative assured its members that the decision to raise rates was based on current market conditions and the need to cover escalating costs associated with LED technology.