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Energy Department proposes modest rate increase, seeks $3M more revenue amid major substation projects
Summary
Provo Power presented FY2026 budget projections and asked the council to note a proposed small rate increase (approx. 3%) to cover higher purchased power costs from UMPA and to preserve a targeted fund balance while the utility spends on major substation replacements and other CIP.
Provo Power staff briefed the council April 8 on the utility’s FY2026 budget outlook and a proposed modest rate increase to cover higher purchased‑power costs and to sustain a healthy fund balance ahead of large capital investments.
Scott Bunker (Energy presenter) said Utah Municipal Power Agency (UMPA) projected a roughly 4% increase in wholesale power costs for Provo’s power purchase agreement. Provo Power managers proposed a smaller customer rate increase — staff indicated planning for roughly a 2–3% retail rate adjustment, with staff modeling showing approximately a 3% overall increase — and said they…
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