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Electric director outlines $7M AMI plan, hedging approach and capital needs as rates face modest rise
Summary
Electric Director Paul Waddell described the utility's FY2026 plan: a large AMI (advanced metering infrastructure) project estimated at $7 million, continued conservative power-supply hedging, $10.5 million in capital (including transformer replacement and substation work) and an expected modest rate increase tied to a previous rate study.
Paul Waddell, the city’s electric director, told council that electric revenues are nearly entirely rate‑driven and that the electric fund is budgeting conservatively given market volatility.
Waddell described a planned advanced metering infrastructure (AMI) program with an estimated $7 million price tag currently scheduled for a future fiscal year. He said options exist to phase or stagger procurement but noted scale purchasing yields unit price benefits: “If we commit to the purchase of all the meters at 1 time, we're…
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