Electricity customers with utility Clay Electric are now watching their monthly bills go down by about $5 for every 1,000 kilowatt hours of electricity thanks to the falling price of natural gas, the Florida Times-Union reports.
According to the news source, the rate decrease started on November 1, and is expected to last at least through the end of December. Now, the cost of 1,000 kilowatt hours of electricity will be about $105.80, compared to $110.80 in October. On average, customers use about 1,236 kilowatt hours of electricity every month, resulting in average savings of 4.7 percent.
Still, the utility said this price does not include taxes or other charges.
"We’re really glad we can pass along these lowered fuel cost savings to our members, at a time when most everything else is going up in cost," said Ricky Davis, Clay Electric’s chief executive officer and general manager.
Although Clay Electric customers currently have some of the best electricity rates in the region, they would likely benefit from energy deregulation laws that would allow them to shop around for the best option, and switch providers if they find a rate that better suits them.