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MLGW presents 2026 budget: no new rate increases, continued capital for reliability and grid modernization
Summary
Memphis Light, Gas & Water briefed council committees on the proposed FY26 operating and capital budgets. The utility said overall spending will be slightly lower than FY25 largely because some large capital programs are complete or will be delivered under PPA rather than capital. MLGW said it will not propose new rate increases in 2026 and will
Memphis Light, Gas & Water presented a high-level overview of its FY26 operating and capital plan and set a public budget hearing for Nov. 12. The utility said the FY26 budget is slightly smaller than its FY25 plan largely because a number of multi-year capital projects were completed in the current year and because some planned battery/solar capacity may be procured under a purchase-power agreement rather than as a utility capital asset.
President McGowan and CFO Rod…
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