Login
Christy Tuckey
By the Numbers – 2024 Financials
March 2025 Balance Sheets Assets 2024 2023 Utility PlantElectric Plant in Service $231,846,213 $196,035,693 Construction Work in Process 56,204,055 29,173,364 288,050,268 225,209,057 (Accumulated Provision for Depreciation) (70,212,033) (66,089,469) Total Utility Plant 217,838,235 159,119,588 Other Property and Investments at Cost…
Minutes of the 2024 Annual Meeting
March 2025 Suwannee Valley Electric Cooperative, Inc’s (SVEC) annual business meeting of the members was held on Saturday, April 27, 2024, at the Suwannee County Agricultural Coliseum. At 10:00 a.m., Executive Vice President and CEO Michael McWaters welcomed consumer-members who…
What can I do to reduce my monthly bill?
For those looking for ways to manage their payments, we provide flexible billing options like MyChoice and Budget billing. Our Smarthub tool can also help track energy usage, allowing you to make adjustments before larger costs add up. Additionally, exploring…
Will Rapid Fiber Internet prices also increase?
No. Rapid Fiber Internet operates separately from SVEC and will not experience a rate change.
Why won’t SVEC move lines underground?
Moving lines underground would require a significant upfront investment. At approximately $4 million per mile, it would cost the cooperative $11.2 billion to transition to underground service. Given our cooperative model and the rural service area, such a decision would…
How does SVEC’s new rate compare to others in the state?
SVEC’s rates remain competitive and are lower than many, including investor-owned utilities.
Can the money received from FEMA or the Idalia Cost Recovery charge be applied toward other storms and expenses?
No. FEMA reimbursements are a multi-year process for specific storm-related expenses. The money cannot be allocated elsewhere, nor does the reimbursement cover all storm costs. Likewise, the Idalia Cost Recovery charge is strictly designated for covering costs from Hurricane Idalia.…
How does this rate change affect the co-op’s profits?
SVEC is a not-for-profit electric cooperative owned by those we serve. Any margins (profits) are reinvested into the electric system and eventually retired back to our consumer-members through the capital credit process.
When will I see the change on my account?
Members receiving a monthly bill statement will see the change with January’s bill. Prepaid account rates will see the change at 12:00 p.m. [X]. On this day, the charge will include usage from the previous day and a one-time adjustment…
Does this rate change also apply to non-residential services?
Yes. Both residential and non-residential services will experience a rate change. All rates can be viewed here: Rates, Fees, & Deposits – Suwannee Valley Electric Cooperative