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Austin Energy proposes FY2026 budget with 5% base‑rate increase; projects $43.5M 2026 shortfall
Summary
Austin Energy presented its FY2026 proposed budget July 17 seeking a 5% base‑rate increase, forecasting $1.95 billion in revenue and $1.99 billion in costs for a $43.5 million shortfall in 2026; staff said the deficit narrows in later years and typical residential bills may fall as power‑supply costs decline.
Austin Energy staff on July 17 presented the utility’s proposed fiscal year 2026 budget and recommended a 5% increase in base rates to address rising costs and support capital projects.
John Davis, acting senior vice president and chief financial officer, said the proposed FY2026 revenue budget is roughly $1.95 billion while budgeted uses total about $1.99 billion, producing a projected 2026 deficit of about $43.5 million. Staff told the Electric Utility Commission (EUC) the gap narrows in later years as the plan relies on continued cost control and projected base‑rate revenue growth.
Staff highlighted key cost drivers: higher operating and maintenance expenses including personnel and contractual costs, increased transmission and…
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