Quote:
Originally Posted by golfing eagles
Thanks. I didn't realize Co-ops have different rules.
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Neither did I. . . interestingly,
I learn something every day from the "discussions" on here, even if I am wrong.
SECO CO-op is an electrical distribution Co-op, which owns an electrical generation/transmission Co-op. . . called Seminole Electric Cooperative.
In 1935, President Franklin D. Roosevelt created the Rural Electrification Administration (REA) by executive order to bring electricity to rural communities through the formation of electric cooperatives. In 1937, the REA drafted the Electric Cooperative Corporation Act, a law permitting states to create and operate not-for-profit, member-owned distribution electric cooperatives. The same year, Florida’s first distribution electric cooperatives were formed.
History – Seminole Electric Cooperative
The FLORIDA PUBLIC SERVICE COMMISSION regulates the non cooperative electrical distribution and transmission companies. . .
Florida PSC
The FPSC regulates the following electric distribution companies:
Florida Power & Light
Duke Energy
Tampa Electric
Florida Public Utilities
The funny part is that SECO and seminole co-ops were created for rural FL, and it won't change its rural status unless someone buys out the co-operatives. The key difference is the organization under those regulations and are a member owned non profit organization. Big advantage over Duke Energy. .
HOWEVER, non profit does not non profit literally, as in the binary opposite = MONEY LOSING. . . even the cooperative needs to recover its costs, therefore if costs increases, rates will increase. .