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I'm borrowing this post by my friend Laura Perkins Cox (it saves me from having to type essentially the same thing!):
Tonight the City Council agreed to reduce the GP&L fuel adjustment charge to 6.44 cents per kilowatt hour from its present rate of 6.96 cents per KwH. The reduction will be effective 01 Nov 2006. This will once again put GP&L as the lowest-cost retail electric provider in the TXU price to beat area.
Percentage-wise: the reduction will mean a 3.8% lower electric bill for GP&L customers who use 1500KwH per month. The new rate is 17.6% below the TXU price to beat.
In dollars: A GP&L residential utility customer who uses 1500 KwH of electricty a month will pay $186.45. A customer who pays TXU's price to beat will pay $227.85 a month for the same 1500 KwH.
This is the advantage of a municipal utility: we can lower rates to our customers because we serve our citizens, not stockholders and investors who expect big profits. I am proud of this council, which has shown sensitivity to customers pinched by high electric bills by lowering rates when fuel prices fall.
See www.powertochoose.org for more information about retail electric providers and pricing.
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