Garland Power & Light customers will pay less for electricity starting Oct. 1. With residential customers using an annual average of 1300 kWh per month, consumers will see monthly bills decrease on average from $140.04 to $130.29, for a savings of $9.75 per month or $117 per year.
“We’re committed to providing reliable and competitively priced electric service to our customers. I’m pleased to say that this 7 percent decrease keeps us competitive with offers seen in deregulated areas,” said GP&L General Manager and CEO Jeff Janke.
The reduction in cost comes as GP&L lowers the Recovery Adjustment Factor (RAF) component of the electric rate from $0.0544 per kWh to $0.0469 per kWh. The decrease in the RAF reflects lower prices in the ERCOT wholesale energy market attributable to low natural gas and wind power prices. GP&L’s continued cost management activities and success in pursuing incremental revenue from expanded endeavors also made the change possible.
The reduction is effective for residential and commercial customers whose electric rates contain the RAF component.