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JEA Presentation Indicates Steady Electric Rates For 4 Years, Possible Increase In 2025

JEA's Downtown Jacksonville headquarters
Bill Bortzfield
JEA's Downtown Jacksonville headquarters

Even with the Plant Vogtle nuclear plant casting a shadow on JEA's financial outlook, the utility can hold the line on electric rates for the next four years but would need a slight increase in 2025, according to a presentation given Tuesday to the utility's board.

WJCT News partner The Florida Times-Unionreports that stable outlook contrasts sharply with forecasts last year by the utility's previous executive leadership that JEA  would need drastic actions such as deep layoffs of employees or double-digit rate increases for customers because of Plant Vogtle's cost and the impact of energy-efficiency technology on electric usage.

"JEA has a very strong financial foundation," interim Chief Financial Officer Brian Roche told the board.

An entirely new board and executive leadership is running JEA in the wake of the collapse last December of an attempt to seek a private buyer. The current board has staked out a position that JEA is not for sale.

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