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FPUA board approves $3-per-1,000-kWh reduction in power cost adjustment, effective July 1
Summary
FPUA voted to reduce the power cost adjustment by $3 per 1,000 kilowatt-hours effective July 1, 2024, citing lower projected purchased-power costs and a strategy to smooth month-to-month changes while protecting the rate-stabilization fund.
The Fort Pierce Utilities Authority on May 7 approved a $3 reduction in the power cost adjustment (PCA), meaning residential and commercial customers will see a credit of $3 per 1,000 kilowatt-hours effective July 1, 2024.
Chief Financial Officer Micah, presenting the March PCA update, said staff were shifting to a 12-month window for PCA calculation to stabilize the…
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