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FPUA keeps PCA steady as rate-stabilization fund remains within target
Summary
FPUA finance manager Andrea Transfarini Sloan reported the power-cost-adjustment remains at $4 and the rate-stabilization fund balance is about $8.4 million after an April undercollection of roughly $296,000; staff said they will monitor projections and hold the PCA steady unless outlooks change.
Fort Pierce Utilities Authority finance manager Andrea Transfarini Sloan presented the board with an April update on purchased-power costs, the power-cost-adjustment (PCA) and the rate-stabilization fund.
Sloan said the base purchased-power rate is "$79.52 per thousand kilowatt hours, and our PCA is $4, which it has been since February 2026." She reported that for April the utility "under collected $296,000 and our new cumulative balance is 8,400,000 in our rate stabilization fund." Sloan said the team reviews FMPA and Raftelis data monthly and plans to hold the PCA at $4 unless short-term projections change considerably.
The board had no substantive objections and thanked staff for providing monthly updates; one board member noted the monthly cadence was requested earlier and appreciated receiving the information monthly rather than quarterly.
The presentation included a hedging update: staff said they are approximately 75% hedged for June–September and about 50% hedged November 2026–March 2027, with staff continuing to add positions as opportunities arise to lock in reduced prices.
The slide presentation and board discussion were informational; there was no board vote on the PCA at this meeting.
