Fort Pierce - Wednesday August 17, 2022: The Fort Pierce Utility Authority (FPUA) Board voted to reduce the cost of electricity for its customers at their meeting Tuesday night.
FPUA’s 28-thousand customers have been hit hard by surging natural gas prices, as well as the separate 10% FPUA rate hike for water and sewage service to pay for the long awaited relocation of the South Hutchinson Island Wastewater Treatment Plant.
In response the FPUA Board decided to reduce the Power Cost Adjustment (PCA) on electric bills by $10 per 1,000 kWh. The PCA will be $19 per kWh for the month of August. "FPUA understands the impact of this summer's unexpected fuel prices and we are here to help," states the utility's notice to customers.
Florida's electric utilities use natural gas to generate over 75% of their electricity because it is reliable, efficient and a relatively clean fuel source, but natural gas prices have swelled in recent months as a result of shortages caused by Russia's invasion of Ukraine.
The increase in the cost of natural gas is passed on to customers as a specific line item on their bills, separate from the base rate. That cost is called the Power Cost Adjustment or PCA. When the fuel price increases or decreases, so does the PCA.
The cost of natural gas remains volatile and FPUA says it will continue to track the price daily and revisit the PCA at future board meetings if additional adjustments, up or down, are warranted.
FPUA has already suspended all late fees and disconnections for non-payment s through September 30th. However disconnects and late fees are scheduled to resume on October 1.
READ the notice from FPUA in FULL below:
We are writing to share with you important news regarding decisions made at last night's FPUA Board Meeting including a reduction to the Power Cost Adjustment (PCA) on your electric utility bill. On Tuesday, August 16th, the FPUA Board of Directors voted to reduce the PCA by $10 per 1,000 kWh. The PCA will be $19 per 1,000 kWh for the month of September 2022.
FPUA understands the impact of this summer's unexpected fuel prices and we are here to help. We have implemented emergency protocol to suspend all disconnects and late fees through September 30th. Please note that disconnects and late fees are scheduled to resume on October 1, 2022.
Florida's electric utilities use natural gas to generate over 75% of our electricity because it is reliable, efficient and a relatively clean fuel source. Fuel is a cost that is passed on to customers as a specific line item on our bills, separate from the base rate, and called the Power Cost Adjustment. When the fuel price increases or decreases, so does the PCA.
Today's natural gas prices are very volatile. The FPUA Board and leadership are tracking fuel prices daily and revisiting it at every board meeting. If you wish to learn more or get involved, you can attend FPUA board meetings every first and third Tuesday at 4pm at Fort Pierce City Hall, or watch them live or recorded online (available at this link: fpua.com/board-information/board-meetings.
FPUA is a municipal utility provider. Our mission is to provide our customers with economical, reliable, and friendly service in a continuous effort to enhance the quality of life in our community. Though the PCA is being reduced, we are still under a positive PCA while the price of fuel remains high. If you are in need of utility bill assistance, please call our Customer Service department at 772-466-1600 ext. 3900 to learn more about special payment arrangements and utility assistance programs available in our area.
FPUA is actively seeking to expand and improve its communications with you, our valued customers. You are receiving this e-mail because you have been automatically enrolled to receive important updates regarding your utility services. If you would like to opt out of this program, please do so by visiting the Subscriber Preferences Page that is linked at the bottom of this e-mail.
We appreciate your patience and understanding as we navigate these times and volatile fuel prices.