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UTILITY BOARD APPROVES FISCAL YEAR 2015 BUDGET; INCLUDES ENERGY BILL RATE REDUCTION FOR 3RD STRAIGHT YEAR

09/11/2014 ~ The Utility Board held a public hearing and approved Keys Energy Services (KEYS) Fiscal Year (FY)* 2015 budget and five-year financial plan, during their regularly scheduled meeting on Wednesday, September 10th. The approved FY 2015 budget for KEYS is $97.4-million. The budget takes into account a half-percent base rate decrease for KEYS’ customers during FY 2015. KEYS has reduced energy bill rates since FY 2009 by 3.95-percent.

“The Utility Board requested a balanced budget and a rate decrease, KEYS’ staff identified projects which could be postponed or eliminated without affecting reliability,” said Lynne Tejeda, KEYS’ General Manager & CEO.

In FY 2009 a residential customer with 1,000 kilowatt-hours** of consumption, a typical usage cited when making comparisons, had a bill of $156.17. Taking into account annual base rate decreases since FY 2009, in FY 2015 that same customer will have a bill of $133.83 if their consumption remains unchanged.

In other business, the Board:

- Awarded a piggy-back unit price contract for pole inspection and treatment services to Osmose Utilities Services, Inc., for an estimated amount of $705,217.38. This contract will cover the inspection of approximately 14,000 utility poles with regard to ongoing storm hardening upgrades. The contract is a piggy-back through the City of Homestead.

- Approved a customer service training and surveying agreement with Measure-X in the amount of $35,000. The contract will cover training for all KEYS’ employees as well as 50-monthly telephone customer surveys. Measure-X training and surveying is used at Fort Pierce Utilities Authority and the Florida Keys Electric Co-operative.

The regular meeting of the Utility Board took place at 5:00 p.m., September 10th, in the Louis Carbonell Board Room of the William Arnold Service Building, 1001 James Street, Key West.

*KEYS’ Fiscal Year runs from October 1st to September 30th.

** Kilowatt-Hour (kwh) – A common unit of electric energy consumption, and the basic unit of electric energy. Ten 100-watt light bulbs burning for one hour use one kwh.

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