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Council weighs 2% vs. 2.4% electric revenue increase as staff warns no‑action erodes reserves by 2029–2030
Summary
Staff proposed a modest 2% electric revenue increase for FY26 (2.4% equals CPI); analysis showed doing nothing would exhaust reserves in the late 2020s, while 2–2.4% delays reserve shortfalls — council discussed AMI/time‑of‑use and long‑term cadence.
City electric staff proposed a modest, near‑term revenue increase to stabilize forecasts and preserve debt coverage. Sarah (utility staff) said a 2% FY2026 increase would generate roughly $2,800,000 in additional revenue; a 2.4% increase (the CPI cited by staff) would produce about $3,400,000. Staff framed the proposal as a small, predictable increase to avoid larger, infrequent hikes later.
Staff presented forecasts showing…
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