Florida Public Service Commission hears presentation from utilities with prepay options

The Florida Public Service Commission (PSC) listened to presentations from two utilities in the state that discussed prepaid electricity options for customers.

The representatives from the two utility companies said the prepaid option allows customers to manage daily energy consumption and utility bill payments while removing some upfront costs and other fees.

“Voluntary prepaid electric programs are an option that could be beneficial to many different consumers,” PSC Commissioner Gary Clark said. “A key advantage of prepaid electricity metering is that it permits customers to track real-time use and save energy costs, which also helps control budgets.”

Customers who choose to prepay as a voluntary option are highly satisfied because their needs are more aligned with their lifestyles and family budgets, said Jamie Wimberly, senior vice president at E Source, which conducted consumer survey research on utilities and customer preferences. Wimberly also noted that prepay energy can be a preferred alternative to high security deposits and payment arrangements.

One of the companies that presented before the commission was JEA. Sheila Pressley, chief customer officer at JEA, explained how its JEA’s MyWay Prepaid Program works.

In the MyWay program, a prepaid account allows customers to buy a dollar amount of utility service, and in turn, JEA will deduct their usage from that balance. The customer’s usage is metered, and their account is debited for the amount owed. MyWay customers are not required to pay a security deposit and are not assessed late fees.

The other presentation was by Emily Cowan, vice president of member services and external affairs at Choctawhatchee Electric Cooperative (Chelco).

In Chelco’s Prepay Electric Service, customers pay a $15 account setup fee, a $5 membership fee, and a minimum of $50 in energy. No security deposits or late fees are assessed. Existing members with a traditional account may convert to prepay billing at any time, with any deposits on an existing account credited toward account balances or to the prepay account. Customers can also return to a traditional account after six months if the prepay service does not work for them.