A proposed decrease to electric and natural gas fuel rates could lower the average residential customer’s monthly bill by $9.72, according to an announcement made at the March 18 Utilities Board meeting. The proposal will go before City Council for a vote at its regular meeting on March 24. If approved, the new rates would take effect April 1.
The proposed reduction is due to lower forecasted natural gas prices in 2026. This adjustment is expected to benefit customers across all sectors, with residential, commercial, and industrial users seeing decreases in both electric and natural gas cost adjustments.
For residential customers, the electric cost adjustment would mean a $2.10 (1.9%) decrease per month, while the natural gas cost adjustment would reduce bills by $7.62 (15.2%). Commercial customers could see their electric bills drop by $18.00 (2.6%) and their natural gas bills by $157.35 (20.4%). Industrial users are projected to experience even larger reductions: $1,293.20 (3.1%) for electricity and $1,573.56 (21%) for natural gas.
Fuel rates are adjusted quarterly based on actual fuel costs and can either increase or decrease throughout the year. As a nonprofit community-owned utility, changes in fuel costs are passed directly to customers up to four times annually—typically in January, April, July, and October.
To protect customers from market volatility, the utility purchases natural gas when demand and prices are low, stores supply underground, and uses long-range planning tools to secure stable pricing for portions of its supply.
Programs such as Budget Billing help spread energy costs evenly over the year; Project COPE provided more than $1.5 million in assistance to local families in 2025; and LEAP has distributed $1.6 million so far this season for winter utility assistance.
