Florida Keys Electric Cooperative

What Florida Keys Electric Cooperative does

Florida Keys Electric Cooperative Association, Inc. (FKEC) is a member-owned, not-for-profit electric distribution utility cooperative serving approximately 34,260 meters across the Upper and Middle Florida Keys, from the Monroe-Dade County Line (Ocean Reef) to the Seven Mile Bridge. Founded in 1941 and headquartered in Tavernier, Florida, with a second operations center in Marathon, FKEC delivers electricity through 138,000-volt transmission lines, six substations, a generation facility, and distribution lines that span 11 miles over water. The cooperative employs approximately 115 people and operates with a 99.99% reliability standard supported by annual helicopter inspections covering 1,600+ transmission poles and drone-based distribution inspections.

FKEC's product surface is structured around regulated electricity service. Core rate classes include residential ($1.00/day system access charge plus $0.033/kWh above 1,000 kWh), commercial non-demand ($1.40/day plus $0.023/kWh), and commercial demand ($2.50/day plus $5.65/KW over 35KW), with wholesale power from FP&L passed through to members at no markup. Member-facing digital infrastructure includes the SmartHub online account management platform and a live outage map. Adjacent product offerings span energy efficiency rebates, solar loan financing up to $35,000 with 10-year terms, solar net metering, cooperative-owned solar arrays, standby generator loans, surge protection, tree trimming, outdoor lighting, and a Special Needs Registry for emergency planning.

Revenue mechanics are those of a regulated cost-of-service utility: FKEC bills recurring monthly subscriptions to residential and commercial members, with excess margins allocated and returned as capital credits based on patronage — historically exceeding $64.5 million in cumulative returns. Member segments split horizontally between residential members and commercial members (with a designated essential community services tier for priority storm restoration). FKEC markets directly to its 34,000+ member-consumers through its website, SmartHub, Florida Currents quarterly magazine, social media, email/phone, and annual meetings, with no intermediary resellers. The cooperative participates in mutual aid networks with other Florida electric cooperatives for storm restoration and pursues federal infrastructure funding through NRECA.

Name

Florida Keys Electric Cooperative

Legal name

Florida Keys Electric Cooperative Association, Inc.

Website

https://fkec.com

Company type

Private

Founded year

1941

Operating status

Operating

Headcount range

101–250 employees

Short description

Florida Keys Electric Cooperative is a member-owned, not-for-profit electric distribution utility serving approximately 34,260 residential and commercial meters across the Upper and Middle Florida Keys, operating from Tavernier and Marathon with regulated recurring rate-based revenue and capital credit returns to members.

Ownership category

akta.pro rank

Product category

Cooperative Electric Utility

NAICS

Electric Power Distribution (221122), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911)

akta.pro primary industry

Electric Cooperatives (Rural/Member-Owned Utilities) (EUADABAC)

akta.pro secondary industries

Distributed Storage (Behind-the-Meter Batteries) (EUAMAJAE), Generator Installation & Transfer Switches (Standby/Portable Interlock) (HSAOADAF)

Keywords

• Electric utility services
• Cooperative power distribution
• Residential electricity supply
• Commercial electricity services
• Outage management services

Headquarters

HQ city

Tavernier

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Electricity Sales - Residential: The cooperative generates revenue through residential electricity sales at regulated rates. Revenue model includes Daily System Access Charge ($1.00/day), Energy Charge ($0.033/kWh for usage above 1,000 kWh), and Equity Charge ($0.027663/kWh). As a not-for-profit cooperative, excess margins are returned to members as capital credits.
2. Electricity Sales - Commercial Non-Demand: Commercial service for accounts where monthly demand does not exceed 35KW. Revenue includes Daily System Access Charge ($1.40/day) and Energy Charge ($0.023/kWh for usage above 1,000 kWh).
3. Electricity Sales - Commercial Demand: Commercial service for accounts where monthly demand exceeds 35KW. Revenue includes Daily System Access Charge ($2.50/day), Demand Charge ($5.65/KW for usage over 35KW), and Energy Charge ($0.023/kWh).

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Florida Keys Electric Cooperative is a member-owned, not-for-profit electric cooperative that distributes electricity to approximately 34,260 residential and commercial meters across the Upper and Middle Florida Keys. Services include residential and commercial electricity supply, service initiation/transfer/disconnection, vegetation management, surge protection, generator and solar financing, energy-efficiency rebates, capital credit returns to members, and an online SmartHub platform for account management.

Product overview

Florida Keys Electric Cooperative (FKEC) is a member-owned, not-for-profit electric utility serving the Upper and Middle Keys. The cooperative operates as a single unified utility offering rather than a platform-plus-modules architecture. Core member-facing products include SmartHub (online account management and bill payment portal) and an Outage Map for real-time outage tracking. FKEC provides comprehensive electric utility services including residential and commercial service initiation/transfer/disconnection, new construction connections, and outage management. Additional offerings include energy efficiency programs (Residential Rebate Program, Solar Loan Program, Solar Net Metering, FKEC Solar Arrays), vegetation management (Tree Trimming, Mulch Delivery), safety equipment (Surge Protection, Portable Generator Connector, Standby Generator Loan), outdoor lighting, and community programs (Capital Credits, Operation Round Up, FKEC Members Charitable Trust). Storm preparedness services include a Storm Center with restoration planning, live weather data feeds, and a Special Needs Registry. The cooperative also publishes the Florida Currents Magazine and maintains cybersecurity infrastructure through its FKEC Cybersecurity Program.

Differentiator

Problem solved

Functional benefit

Brands

• SmartHub: Online account management tool and mobile app for bill payments, account management, and energy usage monitoring.
• Capital Credits
• Solar Loan Program
• Green Power
• Operation Round Up

Products and services

• Residential Electricity Service (Rate Code 1) Single-phase residential electricity distribution for homes, apartments, and condos in the Upper and Middle Keys, billed through a daily system access charge, per-kWh energy charge, equity charge, and pass-through wholesale power cost.
• Commercial Non-Demand Electricity Service (Rate Code 2) Electricity distribution for commercial accounts with monthly demand not exceeding 35KW, billed through a daily system access charge and per-kWh energy charge above 1,000 kWh.
• Commercial Demand Electricity Service (Rate Code 3) Electricity distribution for commercial accounts with monthly demand exceeding 35KW, billed through a daily system access charge, demand charge above 35KW, and per-kWh energy charge, with a one-year minimum term.
• Start/Stop/Transfer Electric Service Coordinated residential and commercial electric service initiation, transfer between accounts, landlord automatic transfers, service disconnection, and new construction/remodel connections across FKEC's service territory.
• SmartHub Online Account Management Online and mobile account management tool allowing FKEC members to pay bills, manage accounts, monitor energy usage, report outages, and initiate service requests via web browser or mobile app.
• Outage Map Real-time public-facing power outage map showing verified outages and estimated restoration times for FKEC's Upper and Middle Keys service territory.
• Tree Trimming Service Vegetation management service that trims trees around power lines to maintain system reliability, with associated free mulch delivery to members from trimming operations.
• Outdoor Lighting Service Outdoor lighting installation and maintenance services for FKEC residential and commercial members.
• Standby Generator Loan Program Financing program that lends funds to FKEC members to support the purchase of standby generators for backup power.
• Surge Protection Service Surge protection service for FKEC members to protect residential and commercial electronic equipment from power surges on the cooperative's distribution system.
• Residential Rebate Program Energy-efficiency rebate program that provides financial incentives to residential FKEC members for qualifying energy-saving improvements, with $1,950,024 allocated since 2014.
• Solar Loan Program Financing program that provides loans up to $35,000 to FKEC residential and commercial members for installing grid-tied solar photovoltaic and battery storage systems, repayable over 10 years or less.
• Solar Net Metering Net metering program allowing FKEC members with installed solar systems to receive credit on their electric bills for excess electricity exported back to the cooperative's grid.
• Capital Credits Program Cooperative patronage program that allocates excess revenues to members based on their electricity purchases and periodically returns the accumulated capital credits as bill credits or refunds, with over $64.5 million returned historically.
• Operation Round Up Charitable Program Voluntary member program that rounds up electric bills to the nearest dollar, with the rounded-up amounts contributed to the FKEC Members Charitable Trust to assist members in need.
• Storm Center Outage Services Comprehensive storm preparedness and restoration services for FKEC members, including outage reporting, storm updates, restoration status communications, and safety information during severe weather events.

Quantifiable outcome

• 99.99% reliability standard maintained through comprehensive maintenance programs
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• OSMOSEcoreImplementation/ SI/ Consulting PartnerThird-party contractor performing Public Service Commission (PSC)-required three-year inspections of underground distribution equipment including pad-mounted transformers, switchgear, and underground connection points. Inspections include visual, photographic, and thermal assessments.
• ClearsightcoreImplementation/ SI/ Consulting PartnerCompany specializing in utility pole inspection, treatment, and reinforcement. Conducts visual inspections using drones and ground crews for distribution poles in the Middle Keys.
• Rotor BladecoreImplementation/ SI/ Consulting PartnerHelicopter contractor performing transmission pole top maintenance repairs identified during annual systemwide inspection. Repairs 130+ transmission pole tops efficiently via aerial work.
• Michels CorporationcoreImplementation/ SI/ Consulting PartnerContractor performing transmission insulator upgrades along Card Sound Road and County Road 905. Work involves upgrading 138,000-volt transmission equipment.
• AsplundhcoreImplementation/ SI/ Consulting PartnerVegetation management contractor performing tree trimming around transmission lines. Part of FKEC's comprehensive vegetation management program to maintain 99.99% reliability.
• Massey-Richards Surveying & MappingminorImplementation/ SI/ Consulting PartnerSurveying and mapping contractor for the Sea Oats Beach storm-hardening pole relocation project in Islamorada.
• National Rural Electric Cooperative Association (NRECA)coreStrategic or Co-development PartnerIndustry association representing electric cooperatives nationwide. FKEC board members participate in NRECA Legislative Conference to advocate for federal policy priorities and access infrastructure funding opportunities including $1.2 trillion bipartisan infrastructure bill provisions.
• Glades Electric CooperativeminorStrategic or Co-development PartnerMutual aid partner in Glades, Hendry, Highlands, and Okeechobee counties. FKEC sent 3 two-person Journeymen Linemen teams with equipment including bucket trucks, pickup truck, and digger truck to assist with Hurricane Ian power restoration.
• Peace River Electric CooperativeminorStrategic or Co-development PartnerMutual aid partner serving Ruskin to Vero Beach area. FKEC sent a General Storekeeper to assist in their warehouse following Hurricane Ian.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Peace River Electric Cooperative: Florida electric cooperative operating from Ruskin to Vero Beach. Direct peer through the NRECA/Florida cooperative system and an active mutual-aid partner of FKEC following Hurricane Ian.
• Keys Energy Services: Municipal electric utility serving Key West and the Lower Florida Keys, directly adjacent to FKEC's territory. Highly comparable: similar Keys geography, similar customer base, and was impacted by the same December 2023 transmission outage event as FKEC.
• Glades Electric Cooperative: Florida electric cooperative serving Glades, Hendry, Highlands, and Okeechobee counties. Direct peer—a fellow member of the Florida cooperative network that received mutual-aid line crews and equipment from FKEC during Hurricane Ian.
• Clay Electric Cooperative: One of the largest electric cooperatives in Florida, serving north-central Florida. Same member-owned cooperative model, similar NRECA affiliation, and comparable governance/account structure—useful for benchmarking scale and capital-credit programs.
• Withlacoochee River Electric Cooperative (WREC): Florida electric cooperative serving central Florida. Direct peer under the same regulatory and association framework, with a similar mix of residential and commercial member rates and capital credit programs.
• Suwannee Valley Electric Cooperative: Florida electric cooperative serving the Suwannee Valley region. Direct peer for member-owned distribution operations, rate structures, and NRECA-cooperative governance comparisons.
• Seminole Electric Cooperative: Florida generation-and-transmission cooperative supplying wholesale power to multiple Florida distribution cooperatives including (historically) FKEC. Relevant for understanding cooperative wholesale supply, transmission, and pooled-power arrangements.

Broad incumbents

• Florida Power & Light (FPL / NextEra Energy): Largest investor-owned utility in Florida and FKEC's wholesale power supplier. Broad incumbent in the same regulatory jurisdiction; comparable on T&D infrastructure scale but very different ownership model (IOU vs. cooperative).
• Duke Energy Florida: Major investor-owned electric utility operating throughout Florida. Broad incumbent serving overlapping regulatory and grid environment, useful for benchmarking IO utility rates, storm response, and renewable programs versus FKEC's cooperative model.
• Tampa Electric (TECO Energy / Emera): Investor-owned electric utility serving Tampa Bay and central Florida. Broad incumbent for comparative utility-scale operational benchmarks, storm hardening investment patterns, and regulatory standards within the same state.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/FLKeysElectric
• Facebookfacebook.com/FloridaKeysElectricCooperative

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Florida Keys Electric Cooperative