The City of Leesburg is sharing fuel savings reductions with its customers amid the Coronavirus pandemic.
Leesburg Electric will reduce its Power Cost Adjustment (PCA) charge to $0.00 per kilowatt-hour effective May 1. The PCA will remain at that rate per kilowatt-hour for the months of May and June, providing an approximate 9 percent reduction in monthly electric costs for the typical residential customer. The utility will review fuel savings in late June to determine whether the reduction can continue.
“Our utility was already in our annual process of reviewing rates prior to the outbreak of the pandemic,” said Leesburg City Manager Al Minner. “But with the financial impacts from social distancing directives and decreasing natural gas expenses, our utility is in the position to share fuel cost savings earlier than anticipated and extend this savings for 60 days.”
Managing the COVID-19 pandemic has been a fluid process; therefore, Leesburg Electric will be continually reviewing its fuel purchasing forecasts and will extend rate relief to its customers through Sept. 30 if it is financially feasible.
The PCA reduction comes in addition to the utility suspending its late fees and utility disconnection policies on March 17.
