LITTLE ROCK, Ark. — Entergy Arkansas announced on Thursday afternoon that due to their low-cost power generation portfolio and lower gas prices during 2023, they are now able to decrease customers' electric bills beginning with the billing cycle in April.
They explained that an average residential customer who uses 1,000 kilowatt-hours (kWh) a month will see a decrease of about 7.49% on their bills, which equals to about $10.01.
Commercial and industrial customers will see a decrease of anywhere from 1.6% to 17.7% on their bills but it will depend on their customer usage profile.
The decrease in cost was prompted by a lower fuel rate that is known as the Energy Cost Recovery Rider (ECR) which was adjusted and then passed on to customers.
Now that the ECR rate was predetermined that means that there will be a decrease from $0.01883 per kWh to $0.00882 per kWh— which is the lowest it has been in over 10 years.
“Although our rates are consistently lower than the regional and national average, we continue to keep affordability for our customers at the forefront of our decisions,” said Ventrell Thompson, vice president of Customer Service. “The total decrease customers see on their bills will vary based on their individual energy usage but comes at a time when our customers need bill relief and will extend during the upcoming hot summer months.”
The new rate will be effective for the next year, until March 2025, unless there needs to be an interim adjustment made.