JEA electric customers will see a credit on their May bill.
Utility board members Henry Brown, Dane Grey, Camille Lee-Johnson and Chair April Green voted unanimously in a virtual meeting April 3 to approve the rebate, which will save the average residential customer about $25 on their May bill.
JEA Vice President and Chief Customer Officer Kerri Stewart said the rebates will total nearly $27 million.
JEA projected having 21% of its maximum fiscal year fuel cost in the utility’s Fuel Stabilization Fund at the end of 2020 financial year. The utility’s policy targets 15% in the fund.
Typically, JEA uses the extra money to lower the overall fuel cost, but the utility leadership recommended the board provide the credit to help customers with the financial impact of COVID-19.
Interim JEA Chief Financial Officer Joe Orfano said the surplus was because of lower fuel prices and operating efficiencies.
JEA last gave a fuel rebate in 2015, he said.
“In the last few years we’ve opted to lower the fuel rate, but at this time and during this pandemic, we believe this is the right thing to do for our customers,” Orfano said.
Final vote?
This was the first JEA board meeting since Jan. 28 where it voted to fire former Managing Director and CEO Aaron Zahn for cause. After the meeting, all six sitting board members emailed Mayor Lenny Curry their intent to resign by the end of February.
The four board members who met April 3 agreed, at Curry’s request, to serve until City Council appoints a new board.
The vote on the fuel rebates could be their last as JEA board members.
Curry named seven nominees to the JEA board Feb. 12:
• John Baker II, executive chairman and CEO, FRP Holdings Inc.
• Lt. Gen. Joseph DiSalvo, U.S. Army, retired.
• A. Zachary Faison, Jr., president and CEO, Edward Waters College.
• Dr. Leon Haley Jr., CEO, UF Health Jacksonville.
• Marty Lanahan, executive vice president and regional president, Iberia Bank.
• Robert “Bobby” L. Stein, president, The Regency Group.
• Tom VanOsdol, senior vice president, Ascension Healthcare & ministry market executive, Ascension Florida.
City Council will hold a final confirmation vote on the nominees when it resumes regular meetings, virtually, April 14.