OUC to Propose Lowering Electric Rates for 2nd Time This Year
Publication Date: 7/9/2012
OUC Board to Hear Recommendation for 5 Percent Decrease at Public Workshop Tuesday
Orlando – For the second time this year, OUC will recommend lowering electric rates at a public Budget Workshop at 2 p.m. on Tuesday, July 10 before its monthly Commission Meeting.
“We’ve been working to identify efficiencies and cost-savings throughout our organization, and we’re excited that we can propose reducing rates at a time when our customers need it most and help stimulate the economy,” OUC General Manager & CEO Ken Ksionek said.
Thanks to internal cost-cutting initiatives and budget reductions, the proposed electric base rate decrease would reduce the average OUC residential customer bill to $109.43 a month for 1,000 kilowatt hours (kWh), a savings of nearly 5 percent or more than $5 a month. Commercial customers would see an average 2.8 percent reduction.
The OUC Board will vote on the proposed rates at its August 21 meeting, and the new rates would take effect October 1, 2012.
Since January, OUC will have lowered rates 9 percent, saving an average residential customer using 1,000 kWh a month more than $10 on their monthly electric bill, or about $125 a year. Fuel and base energy charges comprise the electric consumption charge on a customer’s monthly statement. Due to the lower than expected cost of natural gas, OUC reduced the fuel charge March 1. Fuel is a pass-through cost to customers, and OUC was able to pass on lower natural gas prices to customers.
OUC–The Reliable One
Established in 1923 by a special act of the Florida Legislature, OUC—The Reliable One is the second largest municipal utility in Florida. OUC provides electric and water services to nearly 225,000 customers in Orlando, St. Cloud and parts of unincorporated Orange and Osceola counties. Visit ouc.com to learn more about our commitment to reliability, affordability and sustainability.
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