LAKELAND, FL — Lakeland Electric has submitted its final proposal for a series of electric base rate increases that, if approved, would raise base rates by 3.75% annually over four years, resulting in a total increase of 15.87%.
The proposal was presented to the City of Lakeland Utility Committee and is scheduled to go before the Lakeland City Commission for final approval. If approved, the first increase would take effect on October 1, 2026.
According to Lakeland Electric, the increase is needed to address rising operational costs, including materials, equipment, workforce expenses, and infrastructure investments needed to maintain reliable electric service.
The proposed increase applies only to the utility’s base rate portion of customer bills. Fuel charges, taxes, and other fees would remain unchanged.
For the average residential customer, the first-year increase is expected to add approximately $2.83 per month to their total electric bill. Small commercial customers can expect an increase of about $6.70 per month during the first year.
The proposal is based on a formal Cost of Service Study that evaluated the costs associated with providing dependable electric service throughout Lakeland Electric’s service area. The study and proposed rate adjustments have been reviewed during multiple public meetings and by the City of Lakeland Utility Committee.
The proposed ordinance will receive its first reading before the Lakeland City Commission on July 6, followed by a second reading and final vote on July 20.
Lakeland Electric serves approximately 144,000 customers across a 246-square-mile service territory, including the City of Lakeland, Polk City, and surrounding areas. Nothing further at this time.
SOURCE: CITY OF LAKELAND
