Lakeland Electric Customers Face Higher Fuel Charges

0:00On this March 3rd in Tampa Bay, here's what is making headlines. Lakeland Electric customers in Florida will face higher fuel charges starting April 1. This comes after a harsh cold snap in late January, drove natural gas prices way up. No more costs around the plants were about $4.25 per unit, but they jumped to $38 then between $58 and $70 in February. The utility spent over $22 million on fuel that first month doubled the $12 million budgeted. The spy kit because extreme cold across the eastern United States mess with renewable energy and tighten natural gas supplies. Even though Florida did not get the worst of it at first, the national crunch rippled down to local plants. Official stress this is just the past through a market cost, not a base rate increase or any profit grab. Local commissioners had mixed feelings on the timing. One voted against it, worried folks are already hit hard by high winter bills and wanted a smaller, slower rollout.

1:00Others noted the utility is not for profit and must cover real expenses to keep reserves from bottoming out. Reserves started the year near $25 million but could drop to just $9 million by February's end. Leaders pick spring for the hike since usage tends to be lower than giving a chance to rebuild cash buffers. Such bills stay at the current $47 rate with reserves bridging any gap. Customers struggling, contact budget billing, payment plans or aid programs. Check LakelandElectured.com or call 863-834-9535 for details. The daily news now is powered by our sponsor, link in the description. No need to switch positions. The sound is already where your head is, S-O-L-I, solelypillow.com.