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PUC says wholesale prepayment agreement will lower retail water bills by $5–$6 a month
Summary
The SFPUC described a wholesale customer capital prepayment arrangement that would allow 26 wholesale agencies to prepay roughly $362.3 million and that staff estimates will lower average retail monthly bills by about $5–$6 over the next 8–10 years; the committee forwarded the items as amended.
Todd Rechtroms, Assistant General Manager and CFO of the San Francisco Public Utilities Commission, told the Budget and Finance Committee that a wholesale prepayment and collection agreement would permit 26 wholesale customers to issue debt and prepay about $362,300,000 in existing capital obligations. Rechtroms said the structure is permitted under the wholesale water supply agreement signed in February 2009 and that the prepayment would…
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