Lakeland Electric customers will be able to find some relief this summer as the fuel rate drops with the return of high temperatures.
City commissioners voted unanimously on May 4 to lower Lakeland Electric's fuel rate from $62 to $57 per 1,000 kilowatt hours starting June 1. The average residential customer using 1,200 kilowatts a month will see a $6 decrease on their monthly bill.
"This decrease fulfilled a commitment made in February to raise the fuel charge during spring’s lower-usage months, with the goal of stabilizing reserves in time to reduce the fuel charge before high summer demand," read a statement from Lakeland Electric.
The fuel rate remains substantially higher than it was over the winter, when it was $47 per 1,000 kilowatt hours, but below the all-time high of $75 per 1,000 kilowatt hours in September 2024.
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Sandra Ruede, LE's fuel manager, said the municipal-owned utility was recovering funding for its fuel reserves faster than expected. The utility's fuel reserve ended March around $13.9 million, then around $18 million in April.
"We are recovering quite nicely and faster than anticipated," she told commissioners at May 1 utility meeting.
Lakeland Electric had seen itsfuel reserve funds dip substantially over the winter when an extreme cold snapaffected most of the nation's East Coast with record-setting snowfalls. That increased demand limited natural gas production.
Ruede said if the natural gas market continues without any unexpected surprises, Lakeland Electric may be able to further lower its fuel rate — decreasing customers' bills as the summer season approaches.
This article originally appeared on The Ledger:Lakeland Electric reduces fuel charge for customers ahead of summer
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