GRU will reduce fuel adjustment charge in June

Press release from Gainesville Regional Utilities

GAINESVILLE, Fla. – GRU is reducing its electric fuel adjustment charge to 50 mills, effective June 1, as natural gas prices have eased, enabling utility customers to reduce bills in time for summer. 

GRU does not make money on the electric fuel adjustment portion of its utility bill; instead, the utility passes through its fuel costs with no profit. GRU regularly evaluates this charge and increases or reduces it based on market conditions. 

By reducing the fuel adjustment to 50 mills, a 1,000 kWh residential electric bill will decrease by $5, from $156.60 to $151.60.

GRU takes steps to mitigate increases by participating in long-term, prepaid fuel arrangements and by maintaining a fleet of power plants that run on a variety of fuel sources; however, the utility increased the fuel adjustment in recent months to recoup higher-than-expected fuel expenses caused by winter storms.

“Natural gas prices have come down, so we’re able to provide some relief just in time for summer,” said GRU CEO Ed Bielarski. “We will continue to monitor fuel costs and make monthly adjustments as necessary.”   

Click here for FAQs about the fuel adjustment.