Austin Energy lowers customers' bills for a third month

AUSTIN, Texas - Austin Energy will be lowering bills for customers for the third straight month.

According to Austin Energy, the utility is reducing the Power Supply Adjustment (PSA), which reflects wholesale power market costs and, for a typical customer, makes up about half of their total electric bill.

Starting on Dec. 1, the PSA rate will be 15 percent lower compared to the rate in effect earlier this year.

For a typical customer, using about 860 kWh per month, they will save about $6.53 on their monthly bill.

"Austin Energy is doing everything we can to pass savings to our community and continue having some of the lowest energy bills in the state," said Austin Energy General Manager Bob Kahn. "Our recent PSA decreases reflect careful planning and an analysis of both historical and forward-looking market conditions. We will continue to monitor costs closely and remain prepared to make additional reductions when appropriate."

Austin Energy warned that although the market has improved, the utility will remain cautious "because long-term trends in wholesale power prices still pose risks."