MOUNT DORA — Last week at a city council meeting, the city of Mount Dora approved updated electricity rates. The adjustments will take effect October 1 and will provide necessary revenue for Mount Dora Electric Utility.
A comprehensive study from Leidos Engineering, LLC brought results exhibiting a necessary alteration in rate and expense.
Power cost charge revenues will become reduced by $564,000 as the base rate adjustments increase by approximately $290,000. The noted changes will result in lower bills for the city’s customers within a range of .5% – 2.7%. Additionally, even those who receive general customer service needs will notice a decrease of 2% – 4%.
These rate changes remain competitive with Duke Energy and SECO and will keep customers bills lower than the above competitors pricing.
The city affirms that they must make necessary updates to the city’s electrical rates to continue to produce sufficient revenue while providing consistently exceptional service. These alterations will be in accordance with the city’s electrical budget.