The City of Monroe is pleased to announce a significant electric rate decrease and rate stability for natural gas customers, enhancing affordability and providing exceptional value to our residents for years to come.

This comes after a comprehensive rate study, conducted by Utility Financial Solutions (UFS), designed to ensure financial stability and affordability for our residents.

Electric Rate Reduction

Effective July 1, 2024, the City of Monroe implemented an average 10 percent reduction in electric rates for all customers. This change is part of our ongoing effort to provide affordable energy solutions and is expected to benefit both residential and commercial customers significantly.

Comparison of Average Bills

To illustrate the impact of the new rates, consider the following examples:

Residential Customers:
The average residential customer using 1,030 kWh per month will see their monthly bill decrease from $132 to $118, resulting in an annual savings of approximately $175.

Small Commercial Customers:
The average small commercial customer using 1,690 kWh per month will see their monthly bill decrease from $249 to $224, resulting in an annual savings of around $304.

“We’re in a very strong position even with a 10 percent rate reduction. We’re already cheaper than our neighbors, and we will continue to provide some of the most affordable electric rates in the region,” said Energy Services Director Rob Miller.

Rate Stability for Natural Gas Customers

In addition to the changes in electric rates, the City of Monroe is committed to maintaining stability for natural gas customers.

Following the rate study, it has been determined no changes will be made to the current natural gas rates. Please note the cost of natural gas is variable each month. The City of Monroe’s margin on natural gas service has been consistent since 2017.  

This decision ensures that our natural gas customers will continue to enjoy stable, predictable, and affordable energy costs. The City of Monroe’s natural gas rates remain some of the lowest in the region.

Effective Date

City Council voted to approve these new rates during its Strategic Planning Meeting on June 11, with an effective date of July 1, 2024.

“The bottom line is our electric customers will see an average 10 percent electric rate reduction. That is a benefit of the City being in control of its own destiny when it comes to electric generation and transmission. When it gets cold this winter, our residents are also going to appreciate the stability of our natural gas rates,” said City Manager Mark Watson.

For more information, please contact the Energy Services Department at 704-282-4511.