Utility rates rise 9.8% amid increased costs and solar policy adjustments

The Waverly Utilities Board convened on May 13, 2025, to discuss significant changes in utility rates and the financial implications for the upcoming fiscal year. The meeting focused on the adjustments necessary to address rising costs and the impact of new policies on the utility system.

The first item on the agenda was a review of the utility rates, which have seen a notable increase of 9.8%. This rise was attributed to various factors, including an overall cost increase of 9% in the utility's operations. The board highlighted that the previous fiscal year’s costs were approximately $125.3 million, which has now escalated to $136.7 million.

A key point of discussion was the implementation of a Distributed Generation (DG) policy, which has allowed for the installation of solar energy systems. While this initiative aims to promote renewable energy, it has resulted in a decrease in sales volume, necessitating a higher rate increase than the cost rise alone would suggest.

The board identified three primary components driving the increased costs this year, although specific details on these components were not disclosed during the meeting. The discussions underscored the challenges faced by the utility in balancing operational costs with the need to support sustainable energy initiatives.

In conclusion, the Waverly Utilities Board's meeting highlighted the complexities of managing utility rates in the face of rising costs and the integration of renewable energy solutions. The board plans to continue monitoring these factors closely as they prepare for the upcoming fiscal year.