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UNDERSTANDING YOUR BILL

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  2. UNDERSTANDING YOUR BILL
Power Cost Adjustment

A power cost adjustment factor appears on the bills and will allow Palmetto Electric to track fluctuating wholesale power costs. The power cost adjustment is calculated by multiplying the total kWh usage by the corresponding month’s power cost factor.

The current power cost factor is 0.005815

Palmetto Electric is a non-profit member-owned distribution electric cooperative. The power we purchase is generated by Santee Cooper. Palmetto Electric’s wholesale power costs represent about two-thirds of our total charges.

Power Cost Factors

Date

Power Cost Factor

March 2023

0.005815

February 2023

0.004679

January 2023

0.002132

December 2022

-0.001902

November 2022

-0.001306

October 2022

-0.000153

September 2022

-0.000921

August 2022

-0.004541

July 2022

-0.008183

June 2022

-0.008761

May 2022

-0.004698

April 2022

-0.000403

March 2022

-0.004256

February 2022

-0.004862

January 2022

-0.008782

December 2021

-0.020798

November 2021

-0.025167

October 2021

-0.008205

September 2021

-0.006141

August 2021

-0.007206

July 2021

-0.006782

June 2021

-0.008057

May 2021

-0.001949

April 2021

-0.002186

March 2021

-0.002372

February 2021

-0.009080

January 2021

-0.010696

Your Bill

Understanding your energy bill can help you better manage your energy usage and could aid you in saving money. 

Your monthly bill is divided into several sections. There is a monthly kWh energy graph for the current month and the previous 12 months, a billing and payment summary, an account summary, a summary of applicable charges, and a section for important account messages.

For more account information such as average, high, and low temperatures, heating degree days, cooling degree days and other weather-related details, visit MyEnergy Online and login to view the My Usage tab and select Usage History.

 

Calculate Your Bill

The following formula is used to calculate your monthly electric bill:

Facility Charge + (kWh used x rate) + (kWh used x Power Cost Factor*)

*Power Costs (shown on bill) fluctuates monthly and can be a positive or a negative number.

Example:  A homeowner who used 1,000 kWh during the month of August 2021 would calculate their bill as follows:

$17.00 + (1,000 kWh x 10.890¢) + (1,000 kWh x – 0.007206)
$17.00 + (108.90) + (-7.21)
$118.69

**Any taxes, franchise fees, and additional charges, (i.e., Outdoor Lights, Surge Guard, CHAMP) must be added to the above example.

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Mission

To deliver competitively priced, reliable energy and innovative related services to its members and to provide leadership and support to the communities we serve.

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©2023 Palmetto Electric Cooperative. All Rights Reserved.

  • My Cooperative
    • Who We Are
    • Welcome
    • Leadership
    • Annual Meeting
    • Annual Report
    • Bylaws
    • Capital Credits
    • Careers
    • Contact Us
  • My Account
    • Start/Stop Service
    • MyEnergy Online
      • MyEnergy Mobile App
    • Billing and Payment
      • Advance Pay
      • Auto-Pay and Draft
      • e-Billing
      • Levelized Billing
    • Understanding Your Bill
      • Billing FAQs
    • Rates
  • Member Services
    • Programs & Services
      • Buried Treasure
      • CHAMP
      • Dual Fuel
      • H2O Select
      • Illuma Knight
      • Smart Thermostat Program
      • Surge Guard
    • Renewable Energy
      • Beat the Peak
      • Green Power
      • Net Metering
      • Solar
        • Community Solar
    • Energy-Saving Measures
    • Together We Save
    • Choose EV
    • Contractor Specifications
  • In the Community
    • Operation Round Up
    • Co-op Connections
    • Education
      • Scholarships
      • Bright Ideas
      • Youth Tour
    • Environmental Programs
    • Economic Development
    • Affiliations
    • Community Rooms
  • News
    • CEO Letter
    • Press Room
    • Recent News
    • South Carolina Living Magazine
    • Integrated Resource Plan
    • Santee Cooper Settlement
  • Outages & Safety
    • Report a Power Outage
    • PEC Outage Map
    • ECSC Outage Map
    • Restoring Power
    • Safety
      • Play It Safe Kids Zone
      • Storm Safety
      • Everyday Safety
      • Safety Checklist
  • PalmettoLink