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Right of Way (ROW)
Electrical & Conduit
How do government policy and regulation impact rates?
Changes to FEMA reimbursement rules or disaster recovery legislation can affect how quickly SVEC receives funds after major storms. Delays or reductions in reimbursements increase the financial burden on the cooperative – money that could otherwise be invested to better…
Facts and Figures
Storm Costs SVEC incurred over $130 million in just over 13 months following Hurricane Idalia, the May North Florida Tornadoes, Hurricane Debby, and Hurricane Helene. In addition, Florida co-ops alone have paid more than $12 million in disaster-related interest in…
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.