The third-quarter cost of power forecast for Texas public power utility New Braunfels Utilities includes projections for the current Fiscal Year 2023 rate plan that indicate that NBU customers will see a decrease in the third-quarter cost of power compared to the second quarter.
The projects also cover the approaching Fiscal Year 2024 rate plan, which goes into effect on August 1, 2023.
Current projections indicate that NBU customers will see a decline in the third-quarter cost of power compared to the second quarter.
This second consecutive decrease is driven largely by lower natural gas prices, which has resulted in lower power costs in the ERCOT market.
In addition, NBU is lowering the rate at which it is replenishing reserves. The reduction equates to a monthly savings of $11.89 for customers that use an average of 1,200 kWh in August and September 2023.
The quarterly cost of power forecast is intended to help customers estimate and budget their electricity costs.