Finally, after a five year effort, Lake Worth Electric Utility has achieved bill parity with Florida Power & Light, according to Mayor Pam Triolo.
In a brief press conference at city hall Tuesday, Triolo said under this new agreement electric bills for residents in Lake Worth will be drastically lower.
“If you took a bill from an average resident customer and put it beside an FPL bill, we are no 18 cents less,” she said.
Lake Worth has a history of high electric rates; FP&L rates have always been significantly cheaper.
That often disincentives investors from purchasing property under the only electric company available to them in Lake Worth, said Triolo.
“Your electric bill should not be considered a reason to consider leaving,” she said.
In 2013, the Lake Worth Commission tasked city staff with achieving bill parity with FP&L.
Lake Worth Electric Utility Director Ed Liberty said they were able to reduce costs by renegotiating with Orlando Utilities Commission, a hiring freeze, and a decrease in overall fuel costs.