Georgetown utility staff propose modest base-rate increase to help fund $260 million grid expansion

Georgetown electric utility staff on a council workshop presented a proposed change to retail electric rates that would raise base-rate revenue roughly 1.8% systemwide (staff and consultant described this as a 2% retail sales revenue recommendation and a 2.1% increase to each base-rate element).

Michael Simpson, portfolio analyst with the electric utility, told Mayor and Council the utility expects load to grow nearly 100% by fiscal 2030 and that the capital plan to serve that growth will require “a little over $260,000,000 in the electric system over the next 5 years.” He said maintaining strong financial metrics on a standalone basis for the electric utility is critical to preserving favorable interest rates and that without a rate change the utility would not meet targeted coverage…