The JEA board of directors approved a $1.95 billion electric and water systems operating budget June 27 that anticipates a midyear base rate increase for electric customers.

JEA Director of Budgets Laure Whitmer presented an overview of the budget to the board that shows JEA will need a 3.75% increase in revenue for its electric system, driven primarily by JEA’s cost to buy power from the Waynesboro, Georgia, nuclear Plant Vogtle.

Managing Director and CEO Jay Stowe told news reporters after the meeting that falling fuel costs could result in lower customer bills despite the rate increase.

Read the rest of this story at the Jacksonville Daily Record, a Jacksonville Today news partner.