This summer continues to present a number of financial and operational challenges for energy service providers like Lodi Electric Utility. View the September Energy Cost Adjustment and financial assistance options here.
This summer continues to present a number of financial and operational challenges for energy service providers like Lodi Electric Utility (LEU), including:
- Increased demand due to rising temperatures – more than eight 100-degree (or more) days so far in August
- Reduced energy supplies resulting from prolonged drought conditions
- Global supply chain challenges delaying the completion of new projects
- Higher than average natural gas prices and market energy costs
As a result, the September 2022 ECA is a charge of 5.97 cents per kilowatt-hour (kWh). On August 25, 2022, action was taken to recommend that City Council ratify the use of $1.0 million in reserves to pay a portion of the September power supply bill, thereby reducing the September ECA for both residential and commercial customers. Without these reserves, customers would have seen an ECA higher than 8 cents/kWh. These financial reserves provide funding for, among other things, business-related areas of risk such as market power volatility and the cost of replacement power during dry-year conditions for which costs cannot reasonably be forecasted and budgeted. The City Council also recently took action to use $1.5 million in reserves to help mitigate August power costs for Lodi customers.
As LEU recognizes the summer month ECAs have been trending higher than average, customers are encouraged to take advantage of a number of payment assistance programs to reduce the financial impact associated with increasing monthly utility bills this summer. For eligibility and information on these programs, please visit www.lodielectric.com. If you are having trouble paying your electric bill, options are available. For more information on paying your bill and payment plan options, please call 333-6717 or email: email@example.com.