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UTILITY BOARD APPROVES FISCAL YEAR 2016 BUDGET; INCLUDES ENERGY BILL RATE REDUCTION

09/10/2015 ~ The Utility Board held a public hearing and approved Keys Energy Services (KEYS) Fiscal Year (FY)* 2016 budget and five-year financial plan, during their regularly scheduled meeting on Wednesday, September 9th. The approved FY 2016 budget for KEYS is $93-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 24.23 -percent.

In FY 2009 a residential customer with 1,000 kilowatt-hours** of consumption, a typical usage cited when making comparisons, had a bill of $156.15. Taking into account annual base rate decreases since FY 2009 and lower powers costs, in FY 2016 that same customer will have a bill of $119.00 if their consumption remains unchanged.

The regular meeting of the Utility Board took place at 5:00 p.m., September 9th, at the Harvey Government Center, 1200 Truman Avenue, 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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