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UAC backs 5.1% FY2026 electric rate plan as staff outlines grid modernization needs and bond financing
Summary
City staff proposed a 5.1% overall electric rate increase for FY2026 (driven by distribution investments and grid modernization). The Utilities Advisory Commission unanimously recommended the proposal to City Council.
Palo Alto — Staff presented the Utilities Advisory Commission with an electric rate proposal that would raise system average electric rates by 5.1% for FY2026, driven primarily by distribution investments and an expected first bond issuance to support grid modernization.
Senior resource planner Lisa Blair and Jim Stack, senior resource planner for electric, told the commission the FY2026 proposal combines an 11% increase in distribution charges with roughly a 1% increase in supply charges. Blair said the increase reflects the start of multi‑year grid modernization and related financing costs; staff described the FY2026…
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