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JEA Board Approves Decrease in Adjustable Fuel Rate
Jacksonville, FL (June 21, 2006) - The JEA Board of Directors voted yesterday to decrease the variable fuel rate for electric customers beginning October 1, 2006.
The variable fuel rate is calculated annually during the budget cycle to incorporate changes in costs from one period to the next. “Fortunately we have already been able to lock in a lot of our fuel expenses for the coming fiscal year” explains JEA Managing Director/CEO Jim Dickenson. “Based on this projection, we know that we can safely offer a slightly reduced variable fuel rate for our customers.”
“This is important because the idea behind the variable fuel rate is that it would increase as needed and it would decrease if fuel costs were not as high,” adds Dickenson. “When we implemented the variable fuel rate, many customers doubted that they would ever see a decrease.”
In October, JEA’s rate for 1000 kWh of electricity will be lowered by $0.82. For example, the current residential rate for 1000 kWh of $89.15 will become $88.33.
JEA is the eighth largest community owned electric utility in the United States, providing electric, water and sewer service to more than 875,000 accounts in northeast Florida.
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