City finances $76M electric utility budget amid 2% rate increase for growth

Georgetown's electric utility is set to undergo significant enhancements following a recent government workshop held on July 8, 2025. The city council approved a 2% rate increase, which is expected to generate approximately $2.4 million in additional revenue. This decision aims to maintain the financial health of the electric fund while supporting ongoing capital improvements and system maintenance.

The budget for 2025 reflects a proactive approach to energy efficiency, with plans to expand offerings for customers, including energy audits and conservation measures. The city is also investing in improved maintenance by adding a new field crew, which will help address the growing demands of the electric system.

Projected electric sales for 2025 are on track, with an anticipated increase of 1% due to large load projections from significant industrial customers. Developer contributions are expected to reach $26 million, driven by upgrades to the electric infrastructure. Additionally, the budget includes $3.5 million in fees from renewable energy credits, highlighting Georgetown's commitment to sustainable energy practices.

As the city looks ahead to 2026, electric sales are projected to rise further, fueled by residential growth and the influx of large industrial customers. The council emphasized the importance of these developments in ensuring the reliability and efficiency of Georgetown's electric utility services.

In summary, the recent workshop underscored Georgetown's strategic focus on enhancing its electric utility operations, ensuring financial stability, and promoting energy efficiency, all of which are crucial for meeting the needs of its growing community.