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Lakeland Electric to Decrease Fuel Charge Next Quarter
The Lakeland City Commission voted today to lower the electric fuel charge for Lakeland Electric customers for the next fiscal quarter (April/May/June 2024). Sandra Ruede, Fuels Manager, recommended lowering the fuel charge by $2.00 from $38.00 to $36.00 during a presentation on Friday, March 1, at the Utility Committee meeting. The lower rate was made possible by lower natural gas prices, temperate winter weather, and an effort to return to our target fuel reserve balance.
The new fuel charge will be 3.6¢ per kilowatt-hour (kWh). Multiplying the fuel charge by 1,000 kWh, the amount an average residential home utilizes monthly equals $36.00 per 1,000 kWh for fuel.
Reducing the fuel charge will help our customers keep their electric costs low. Lakeland Electric continues to have some of the lowest electric rates in the state. However, like most electric utilities that generate their own power, the cost of fuel is passed directly to customers. Therefore, the fuel charge is an important part of Lakeland Electric's ongoing effort to keep the customer's electric costs low.
|
Residential Rates Based on 1,000 kWh |
Current |
Rates – Effective April 2024 |
|
|
Base Charge* (see below for a breakdown of charges) |
$67.50 |
$67.50 |
|
|
Fuel Charge |
$38.00 |
$36.00 |
|
|
TOTAL: |
$105.50 |
$103.50 |
|
|
|
*Base Charge |
Current |
Rates – Effective April 2024 |
|
|
Customer Charge |
$ 13.50/month |
$ 13.50/month |
|
|
Energy & Smart Grid Charges |
$52.41/1000 kWh |
$ 52.41/1000 kWh |
|
|
Environmental Charge |
$ 1.59/1000 kWh |
$ 1.59/1000 kWh |
Utility rate comparison from Utility Committee presentation on March 1, 2024.