Peace River Electric Cooperative (PRECO) is an electric distribution cooperative serving more than 40,000 homes and businesses in central Florida.
Brevard, DeSoto, Hardee, Highlands, Hillsborough, Indian River, Manatee, Osceola, Polk and Sarasota.
Our service area – divided into 9 geographic districts – extends from near Vero Beach on the eastern shores of Florida to Ruskin on the Gulf of Mexico.
In 1940, local residents, through the Rural Electrification Administration (REA), formed this cooperative to provide themselves with electricity. At that time, no investor-owned electric utility would serve sparsely populated rural areas since it would reduce their profits.
PRECO maintains approximately 3,500 miles of overhead and underground power lines.
PRECO does not generate electricity. We purchase electricity wholesale from Seminole Electric Cooperative, in Tampa, Florida.
PRECO operates on a not-for-profit basis and is exempt from federal income tax, but pays all other taxes, including state and local taxes.
Any net margin of revenue over expenses is credited to members in proportion to their electric use in the form of Capital Credits. This equity – an ownership share in the business – is returned to members when financially feasible to do so.