AUSTIN (KXAN) — The $3.5 billion budget approved by the Austin City Council on Thursday actually includes a slight decrease on your Austin Energy bill. Austin Energy residential customers will begin seeing a decrease in their typical monthly bill starting with bills this November.
The benchmark 1,000 kilowatt-hour monthly bill will be reduced by $3.33. The two line items on your bill that will be lower are the Power Supply Adjustment charge and the Community Benefit charge.
Austin Energy says the reduction is mainly due in part to a drop in costs that the utility company pays for power from the Texas electric grid. Low natural gas prices have pushed statewide electric prices down and Austin Energy, a nonprofit entity owned by the City of Austin, passes on the savings to consumers by reducing the Power Supply Adjustment rate.
The decrease in energy costs was partially offset by an increase in transmission costs paid to other utilities to upgrade and maintain the statewide transmission grid.
“These savings belong to our customers and we are more than happy to return them to ratepayers to lower their bills,” said Larry Weis, Austin Energy General Manager.