What is PCRF?
PCRF stands for power cost recovery factor and is a line item on your bill. PCRF helps the Cooperative avoid large, permanent rate adjustments, which are very expensive to implement.
How does SPEC manage PCRF?
The South Plains Electric Cooperative board regularly analyzes electric rates to make sure they are covering current costs to serve you. The largest part of every dollar you send to the Co-op goes to buy power.
Since our goal is to keep your rates as close to break-even as possible, not to make a profit, the PCRF allows the Cooperative to bill you as close to at-cost as possible every month.
Electric rates are going down.
We are lowering the power cost recovery factor as natural gas prices are declining. High natural gas costs to generate your electricity over the past year hurt everyone's budget. We promised to hold these increases to a minimum and to roll them back as soon as possible.
We're keeping that promise. Your PCRF went back down to zero as of May 1, 2023, and is currently -0.0025, which means we are subtracting costs from your bill.
Click here for more information about power cost recovery factor, or give us a call at 806-775-7766.