LAKELAND ELECTRIC FUEL CHARGE REMAINS THE SAME FOR NEXT QUARTER – EFFECTIVE JANUARY 2018

The Lakeland City Commission voted today to keep the electric fuel charge the same for Lakeland Electric customers for the next fiscal quarter (January/February/March 2018). After listening to a presentation at the Monday, December 4th Utility Committee meeting, staff recommended holding the fuel charge at its current rate based on 12-month fuel forecasts in both the natural gas and coal markets, and due to a surplus of funds in the fuel rate reserve.

The fuel charge will remain 3.875¢ per kilowatt hour (kWh). Multiplying that charge by 1,000 kWh, which is typically the minimum a residential home utilizes in a month, the cost equals $38.75 per 1,000 kWh for fuel.

Maintaining the fuel charge at its current rate during the winter months will help our customers keep their electric costs low. In fact, by holding the fuel charge at its current rate, Lakeland Electric will continue to have some of the lowest electric rates in the state. As with most electric utilities that generate their own power, the cost of fuel is directly passed onto the customers. This makes it an important part of Lakeland Electric’s ever ongoing effort to keep our customer’s electric costs low.

Residential Rates Based on 1,000 kWh Current Rates – Effective Jan, 2018
Base Charge* (see below for breakdown of charges) $63.02 $63.02
Fuel Charge              $38.75 $38.75
TOTAL: $101.77 $101.77

 

*Base Rate
Customer Charge $  9.50/month
Energy & Smart Grid charges $50.99/1000 kWh
Environmental Charge $  2.53/1000 kWh           
Total Base Charge          $63.02/ 1000 kWh