FOR IMMEDIATE RELEASE
Contact: Melissa Krause
Chief Communications and Strategy Officer
830.629.8440 | firstname.lastname@example.org
(New Braunfels, TX – June 1, 2023) – The New Braunfels Utilities (NBU) third-quarter cost of power forecast includes projections for the current Fiscal Year 2023 rate plan and the approaching Fiscal Year 2024 rate plan, which goes into effect on August 1, 2023.
Current projections indicate that NBU customers will see a decrease in the third-quarter cost of power compared to the second quarter. This second consecutive decrease is driven largely by lower natural gas prices, which has resulted in lower power costs in the ERCOT market. In addition, NBU is lowering the rate at which we are replenishing the reserves. The reduction equates to a monthly savings of $11.89 for customers that use an average of 1,200 kWh in August and September 2023.
The quarterly cost of power forecast is intended to help customers estimate and budget their electricity costs. As warmer temperatures approach and children are out of school for the summer, customers’ electricity usage generally increases as families cool their homes and use more appliances and devices. Customers can take further action and control their monthly bills by initiating conservation techniques to help lower their use. Learn more at nbutexas.com/energy-efficiency-resources.
The table below reflects the calendar year 2023 third-quarter total cost of power forecast, based on a residential average of 1,200 kWh usage. The cost of power forecast per kWh for July is estimated at 11.51 cents, and the cost of power forecast per kWh for August through September is estimated at 10.27 cents, plus the monthly Electric Service Availability Charge. The NBU Electric Service Availability Charge will increase from $17.06 to $20.00 monthly, and the delivery charge will increase from 1.49 to 1.95 cents per kWh beginning August 1, 2023.
It is important to note that this quarterly forecast may be subject to change should NBU experience extreme weather and/or energy market events. Definitions for each line item on the NBU bill and any necessary updates to the quarterly forecasting can be found at nbutexas.com/rate-breakdown.
The 2023 third-quarter cost of power is forecasted as follows:
|Line Item||July||July Monthly Electric Bill||August (NBU FY 2024 Rate Plan Effective)||September (NBU FY 2024 Rate Plan Effective)||August/September Monthly Electric Bill|
|Per kWh Charge Total||$.1151||$.1027||$.1027|
|Electric Service Availability Charge||$17.06||$17.06||$20.00||$20.00||$20.00|
The Residential Rate Calculator is available online to help NBU customers estimate monthly residential utility usage costs based on projected electricity, water, and wastewater use and other criteria.
The spring season is the perfect time to take advantage of NBU’s free home assessments and rebates,
To learn more, visit nbutexas.com/conservation.
About New Braunfels Utilities:
New Braunfels Utilities (NBU) strives to be a trusted community partner dedicated to excellence in service and is one of 2,000 community-owned, nonprofit public power electric utilities in the nation. With a mission of strengthening our community by providing resilient essential services, NBU is governed by a Board of Trustees comprised of residents appointed by the New Braunfels City Council. New Braunfels Utilities provides electric, water, and wastewater services. Utility revenues are continually invested back into the systems of the customers, which benefits the community. New Braunfels Utilities makes an annual transfer to the City of New Braunfels, which in turn helps to pay for services such as fire, police, and parks. Follow NBU on Facebook at facebook.com/newbraunfelsutilities, on Twitter at @nbutexas, and to learn more, visit nbutexas.com.