LAKELAND ELECTRIC’S PROPOSED BASE RATE INCREASE APPROVED BY CITY COMMISSION

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Lakeland, Florida, August 6th, 2018 – City of Lakeland Commission has approved Lakeland Electric’s proposed Base Rate increase in a five to two vote at this morning’s City Commission meeting. This additional money will go to maintaining and upgrading Lakeland Electric’s power plants, poles, wires, and substations, as well as cover operational costs that rose over the last three years. The changes to the Base Rate will not take effect until October 2018.
Our customers’ bills are made up of several charges: base rate, environmental charge, fuel charge, and taxes and surcharges. Lakeland Electric proposed raising one charge on the electric bill – the Base Rate – around 3%.
The Base Rate consists of the customer charge and the energy charge, or the kilowatt hours (kWh) used by a customer. For the average residential customer, the overall bill would go up by about 1.8%, which equals $2.43 for a customer using 1200 kilowatt hours every month.
Lakeland Electric will continue to have some of the lowest electric rates in the state. According to the latest rate comparisons by the Florida Municipal Electric Association, Lakeland Electric had the fourth lowest electric utility rates across the state of Florida in June 2018. You can find more information about the rate comparisons here: http://publicpower.com/pdf/rates/2018/2018_june_rates.pdf
In fact, in 2017 Lakeland Electric ranked as having the overall lowest rates in the state in 6 of 8 customer categories (i.e., commercial, residential, industrial, etc.).
At Lakeland Electric, we constantly look for operational efficiencies, from streamlining procedures so they are faster, cheaper, and better, to finding technologies that save money. We have right-sized our organization through attrition, which means we have decreased our budget as well as headcount by 34 positions since 2015. We continually strive to maintain affordable, dependable, and sustainable service.
For more information about the base rate increase, please visit www.LakelandElectric.com/baserate.