The City of Ocala electric customers will notice some financial relief beginning in May.
On Tuesday, April 21, Ocala City Council members approved a reduction to the power cost adjustment (PCA) rate that electric customers will see on their monthly bill. The PCA is the mechanism by which the fluctuation of fuel costs is passed on to the customer. Due to a reduction in these costs, the city will pass on these savings to its customers through June 30, 2020.
Effective Friday, May 1, the cost adjustment rate of $0.014 per kilowatt-hour (kWh) will be lowered to $0.00 per kilowatt-hour (kWh). For a residential customer, this will reduce their overall rate by approximately 12 percent per month, or approximately $14. For commercial or industrial customers, a similar reduction will be reflected per month.
“Many of us need every penny,” said Eric Weaver, Interim Director of Ocala Electric Utility. “Ocala Electric Utility cares, and I am glad we can stand with our friends, family, and neighbors during this difficult time to show our support of the community.”
The PCA rate reduction is another step the City is taking to meet the needs of its customers during these uncertain times. The City had previously announced it would suspend the disconnection of services through May 16, 2020.
If you have any questions or concerns regarding the rate adjustment, please contact the Customer Service Office at 352-629-2489.