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SFPUC adopts multi‑year municipal power rate action to steady Hetch Hetchy finances, with directive to prepare transmittal letter and follow-up policy work
Summary
The commission adopted a multi‑year municipal power rate schedule to address a projected Hetch Hetchy power fund shortfall, choosing a compromise phasing option and directing staff to prepare a transmittal letter to the Board of Supervisors and return with codified rate‑policy language and further planning.
The San Francisco Public Utilities Commission voted to adopt a multi‑year municipal power rate action on December 13 intended to prevent the Hetch Hetchy power fund from dropping into deficit and to restore the fund toward required reserves. Staff presented several options—two pennies per kilowatt‑hour phased over two years, four pennies phased over four years, and a compromise of two pennies spread over four years (a half‑cent per year). The commission approved the substitute package that staff and the mayor’s office had discussed, which spreads increases more gradually over four years.
Staff and the Rate Fairness Board…
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