OUC Lowers Electric Rates for 2nd Time This Year

Oct 21, 2012

OUC Board Lowers Residential Rates by 5 Percent

ORLANDO – For the second time this year, OUC is lowering electric rates for its customers. This afternoon at its monthly Commission Meeting, OUC’s Board approved a 5 percent decrease that will take effect October 1, 2012.

“We are always thinking about how we can best serve our customers, not just to provide a reliable service, but to ensure it is affordable,” OUC Board President Maylen Dominguez said. “The savings from this reduction, combined with the decrease earlier this year, should help stimulate our local economy.”

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.

Since January, OUC has 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.