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Gas Works briefing: adopted 5.25% rate increase, plan to hire internal crews to accelerate pipe work
Summary
Richmond Gas Works staff presented a five-year financial plan and a nine-year staffing proposal to bring construction crews in-house, citing PHMSA grants and rising operating costs. Officials said adopted rates and federal grants are intended to rebuild capital reserves while addressing aging mains and leaks.
Richmond Gas Works staff told the Governmental Operations standing committee that adopted rate adjustments and federal grants will be central to rebuilding capital reserves and accelerating pipeline replacement and repairs.
Dan Reifenberg, who led the Gas Works presentation, said the utility serves roughly 28,000 customer meters, manages nearly 2,000 miles of main and about 1,000 miles of service pipe across city and county localities, and is projecting revenue growth under recently adopted rates. He described a financial plan covering 2026–2030 that assumes the rates council adopted (a 5.25% increase described in the presentation) and federal PHMSA grants. "With the adopted rates, we hope to get to the 1.52 [debt coverage] to cover the debt," Reifenberg said.
Staffing and capital plan: Reifenberg outlined a…
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