Princeton Electric Plant customers will start seeing a decrease in their bills.
The electric plant board recently approved rate decreases that went into effect earlier this month, Princeton City Council member Jim Joiner said during Monday night's council meeting. Joiner is also an electric board member.
The Power Cost Adjustment went from 4.3 cents to 3.6 cents per kilowatt hour. Residential rates will decrease from 13.1 cents to 12.3 cents per kWh per month.
"This is a 6.07 percent decrease, or $7.95 per month on average of 1,000 kWh usage of savings," Joiner said. He said commercial accounts will also decrease by about 6.07 percent.
"I'm very proud to say that the plant board was able to decrease its PCA," Joiner said.
The price adjustment went into effect Oct. 1.
Joiner said the electric board also discussed converting street lights in Princeton to LED fixtures and a motion was made to approve the switch.
"After considerable discussion, this is gonna save the city between $70,000 to $80,000 a year," he said.
Downtown lights have been in the conversion process for a while and the new switch will change all of the remaining lights.
Joiner said residential lighting will have 57 watt LEDs and main road lighting will have 174 watt LEDs.
Mayor Kota Young supports the change.
"It's nice that the plant board is ahead of the curve," Young said. "It's definitely going to be a change, but it's going to be a change for the better and it's gonna save us a nice chunk of money while we're at it."
A project completion date hasn't been announced yet.