City Council passed legislation on Feb. 25 that will lower electric rates. The decrease will be 5.8% for residential customers.
For a home using 700 kilowatt hours of electric per month, this would be a decrease of approximately $5.78. For a home using 1,400 kilowatt hours, this would be a decrease of approximately $11.56.
To see how this change will affect your residential bill, please use the new rate calculator available at the link below this article.
The percentage of rate reduction will be roughly the same amount for all customer classes.
The Power Cost Adjustment portion of the bill is recalculated twice per year to ensure electric operating costs are appropriately recovered. The most recent calculation showed that the PCA should be a negative number. The city opted instead to adjust the base rate for all customer classes.
The new rate will be implemented beginning with the March bills.