Umair Gaines
Lakeland Electric is the primary electricity provider in Lakeland, Florida, and it offers various pricing plans for its customers. The average electricity rate in Lakeland, FL, is 13 ¢/kWh, with an average monthly electric bill of $195 for residential customers. This rate is lower than the national average and the average rate in Florida. The cost of electricity in Lakeland depends on factors such as the time of day, day of the week, and season, with off-peak and on-peak pricing periods. Residential customers can also take advantage of net metering solutions and solar panel installations to reduce their electricity costs.
| Characteristics | Values |
|---|---|
| Average monthly electric bill | $195/month |
| Average monthly consumption | 1,534.00 kWh |
| Average electric rate | 13 ¢/kWh |
| Average annual consumption | 18408 kWh |
| Average monthly bill for Lakeland Electric's residential customers | $162.19 |
| Average bundled rate of electricity for customers of Lakeland Electric | 12.33 ¢/kWh |
| Average residential electricity rate in Lakeland | 13 ¢/kWh |
| Average residential electricity rate in Florida | 16.70 ¢/kWh |
| Average residential electricity rate in the US | 19 ¢/kWh |
| Average monthly industrial electricity bill in Florida | $6,316 |
| Average monthly residential electricity bill in Florida | $123 |
| Average monthly residential power bill in the US | $146.93 |
| Average monthly electric bill in Polk County, FL | $167.95 |
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What You'll Learn
Lakeland Electric's pricing plans
Lakeland Electric is a municipally-owned organisation that provides electricity to 4 cities in Florida: Lakeland, Bartow, Auburndale, and Medulla CDP. Lakeland Electric's residential electricity rates are highest in April, and the highest average bill is in August. The average monthly residential electricity bill in Lakeland, FL, is $195/month, which is calculated by multiplying the average monthly consumption of 1,534 kWh by the average electric rate of 13 ¢/kWh.
Lakeland Electric offers two pricing plans: the Standard price plan and the Demand price plan. The Standard price plan charges an energy rate between 5 and 6 cents per kilowatt-hour used, with no peak period demand charge. On the other hand, the Demand price plan combines a demand charge ($6.49 per kilowatt) during a defined peak period and a lower energy rate (2.529¢ per kilowatt-hour). This plan is beneficial for customers who can reduce their household demand during short peak periods, as they will enjoy a lower energy rate at all times.
In addition to these pricing plans, Lakeland Electric also offers a shift-to-save rate plan. This plan features two different Monday-through-Friday "pricing periods": Off-Peak (lowest cost) and On-Peak (highest cost). Weekends and certain holidays are always considered Off-Peak. By using more electricity during Off-Peak hours, customers can save money on this rate plan.
It is worth noting that the average residential electricity rate in Lakeland, FL, is 13 ¢/kWh, which is lower than both the average electricity rate in Florida (16.70 ¢/kWh) and the national average rate (19 ¢/kWh). Solar panel systems can also help Lakeland residents save money on their electric bills, as the high intensity and duration of sunlight in the region make solar energy a viable option.
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Average electricity costs
The average electricity rates in Lakeland, Florida, are 13 ¢/kWh, which is 24% lower than the average electricity rate in Florida of 16.70 ¢/kWh. The average monthly electric bill for residential customers is $195/month, calculated by multiplying the average monthly consumption of 1,534 kWh by the average electric rate.
Lakeland Electric, the main electricity provider in the city, offers two pricing plans: the Standard price plan and the Demand price plan. The Standard price plan charges an energy rate between 5 and 6 cents per kilowatt-hour used, with no peak period demand charge. On the other hand, the Demand price plan combines a demand charge ($6.49 per kilowatt) during a defined peak period and a lower energy rate (2.529¢ per kilowatt-hour).
The average residential electricity rate for Lakeland Electric customers is 12.33 cents per kilowatt-hour (¢/kWh), slightly lower than the city average. The average monthly bill for Lakeland Electric's residential customers is $162.19, which is higher than the nationwide average of $143.04. Lakeland Electric's rates are highest in April, and the highest average bill is in August.
Compared to other counties in Florida, Polk County, where Lakeland is located, is the 48th most expensive for electricity, with an average residential electric bill of $167.95 per month. The average industrial electricity rate in Florida is 8.04¢/kWh, ranking 12th in the nation and 20.54% greater than the national average of 6.67¢/kWh. The average monthly industrial bill in Florida is $6,316, ranking 30th in the nation.
Solar panel systems can help Lakeland residents save money on their electric bills. On average, a solar system installation will break even in 10.05 years, after which residents may see significant reductions in their electricity costs.
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Solar panel savings
Solar panel systems help reduce monthly electric bills. While a $50 or $100 electric bill might not seem like a lot, these bills add up over the years. For example, if you pay $100 per month in electricity now, you could end up paying over $58,000 on electricity over the next thirty years. With a solar panel system, you can offset these costs and even eliminate your electric bill.
The average electricity customer in Lakeland, FL, consumes 1,534 kWh of electricity per month, or 18,408 kWh annually. To offset 100% of this consumption, a 12.2 kW solar panel system is required. The cost of such a system in Lakeland is approximately $26,000 before incentives. With a $0-down loan, you can expect to save $2,300 in your first year, $12,500 over five years, $27,000 over 10 years, and $63,700 over 20 years.
Net metering solutions offered by Lakeland Electric also benefit solar panel owners. This allows citizens to sell excess energy back to the infrastructure system, making solar panel installation more economically viable.
Additionally, Lakeland Electric offers a Demand price plan that can benefit customers with lower household demand during short periods. This plan combines a demand charge ($6.49 per kilowatt) during peak hours and a lower energy rate (2.529¢ per kilowatt-hour) at all times.
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Average monthly bill
The average monthly residential electricity bill in Lakeland, Florida, is $162.19, which is 13.39% higher than the national average of $143.04. This is calculated by multiplying the average monthly consumption of 1,534 kWh by the average electric rate of 13 ¢/kWh. The average residential electricity rate in Lakeland, FL, is 13 ¢/kWh, which is 24% lower than the average electricity rate in Florida of 16.70 ¢/kWh.
Lakeland Electric, the city's main electricity provider, offers two pricing plans: the Standard price plan and the Demand price plan. The Standard price plan charges an energy rate between 5 and 6 cents per kilowatt-hour used, with no peak period demand charge. On the other hand, the Demand price plan combines a lower energy rate (2.529¢ per kilowatt-hour) with a demand charge ($6.49 per kilowatt) that is applied during defined peak periods.
The average electric bill in Lakeland, FL, is $195 per month, which is 6% lower than the national average electric bill of $2,486. The average electricity customer in Lakeland uses 1,534 kWh of electricity per month, resulting in an annual consumption of 18,408 kWh. Over the next 25 years, residents can expect to pay $86,600 in electric bills.
To reduce their electric bills, residents can consider installing a solar system. While the initial investment may be high, residents can expect to break even on their solar investment in about 10 years, after which they may see significant savings on their electric bills.
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Demand price plan
Lakeland Electric offers a Demand price plan for its customers in Lakeland, Florida. This plan is designed to help residents reduce their electricity costs by lowering their household demand during peak hours. Here's how it works:
The Demand Price Plan:
- The Demand price plan has two components: a demand charge and an energy rate.
- The demand charge is $6.49 per kilowatt (kW) and is applied during a defined peak period. This charge is based on the customer's highest electricity usage during peak hours within a given payment period.
- The energy rate is significantly lower than the standard price plan at 2.529 cents per kilowatt-hour (kWh). This rate applies at all times, even outside of peak hours.
- By combining a lower energy rate with a demand charge during peak hours, customers are incentivized to reduce their electricity usage during short, high-demand periods.
Understanding Peak Hours:
- Peak hours refer to the times of day when electricity demand is highest, typically during the middle of the day and early evening. In Lakeland, the On-Peak period is from 6:01 a.m. to 10:00 a.m. and 6:01 p.m. to 10:00 p.m. on Mondays through Fridays.
- Residents can take advantage of lower rates during Off-Peak hours, which are from 10:01 p.m. to 6:00 a.m. and 10:01 a.m. to 6:00 p.m. on weekdays. Additionally, weekends and certain holidays are considered Off-Peak periods.
Comparing Costs:
- The Demand price plan offers a lower energy rate compared to the Lakeland Electric Standard price plan, which charges between 5 and 6 cents per kilowatt-hour with no peak period demand charge.
- The average electric rate in Lakeland, Florida, is 13 cents per kilowatt-hour (kWh), which is lower than the state and national averages.
- The average monthly electric bill for residential customers in Lakeland is $195, calculated by multiplying the average monthly consumption of 1,534 kWh by the average rate of 13 cents per kWh.
The Demand price plan allows customers to manage their electricity costs by reducing usage during peak hours and taking advantage of lower rates during Off-Peak periods. This plan can help residents of Lakeland, Florida, save money on their electric bills while also helping to distribute energy demand more evenly throughout the day.
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Frequently asked questions
The average electricity rate in Lakeland, Florida, is 13 ¢/kWh. This is 24% lower than the average electricity rate in Florida of 16.70 ¢/kWh.
The average monthly electricity bill in Lakeland, Florida, is $195, which is calculated by multiplying the average monthly consumption of 1,534 kWh by the average electric rate of 13 ¢/kWh.
The average residential electricity rate in Lakeland, Florida, is 12.33 ¢/kWh. This is 23.80% lower than the national average of 16.19 ¢/kWh.
The average commercial electricity rate in Lakeland, Florida, is 9.66 ¢/kWh, which is 3.31% greater than the Florida average and 1.09% less than the national average.
