Fayetteville Public Utilities (FPU) announced last week that the Tennessee Valley Authority’s (TVA) total monthly fuel cost would increase 3.26 percent March 1. Based on the average residential customer’s electric bill for 1,330 kilowatt hours (KWh), March’s bills will increase by $4.71.
In February, the average electric use of 1,330 kWh cost FPU consumers $144.48. In March, the same electric use will cost consumers $149.19.
Electric sales for January were 10 percent higher than anticipated, which led to unfavorable variance as TVA had to rely on higher cost generating resources.
“Significantly colder than normal January temperatures led to the increase in the fuel cost. In fact, January 2018 resulted in the highest fuel costs since the polar vortex in 2014,” said FPU’s CEO and General Manager Britt Dye. “In addition to the colder weather, TVA hydro generation was 50 percent lower than planned due to rainfall being 47 percent below normal that also contributed to the increase.”
Winter season rates remain in effect through March 31st. The total monthly fuel cost will continue to change monthly. For a complete listing of FPU’s electric rates, visit their web site at www.fpu-tn.com, and click on the rates section.
To help customers with their energy costs, FPU offers a budget billing plan which averages monthly electric and natural gas bills. Call FPU at 433-1522 and speak with a customer service representative about the budget billing plan.