Marietta officials say MEAG tax‑credit refund could ease utility pressures; BLW and finance staff report stable position
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Summary
Mayor told council Marietta is among the first cities to learn MEAG received a roughly $84.8 million nuclear tax‑credit refund; finance and Board of Lights & Water staff said overall utility finances remain stable, though water sales and wholesale power costs showed recent volatility.
Mayor (Speaker 1) announced that MEAG — the municipal electric authority — reported a large tax‑credit refund described in the meeting packet. "We got a refund of $84,796,909 and 1 and 5¢," the mayor said, noting the city’s ownership share is roughly 13 percent and that the money could be applied to long‑term financing for Vogtle 3 and 4 or otherwise reduce future rate pressure after 12 years without a rate increase.
Councilman Kent and BLW representatives summarized recent Board of Lights & Water reviews. Speaker 7 told the council the BLW maintained a "strong and stable financial position," with revenues and expenditures generally tracking the adopted budget and no material budget overruns identified. Staff noted normal seasonal variances and said continued attention is being paid to controls in areas affected by inflationary pressures.
During a follow‑up presentation, finance staff explained how supplemental sales inside the MEAG family and off‑system sales help offset wholesale costs. "Marietta has a large portion of the supplemental sales," Speaker 8 said, describing those sales as a meaningful offset when market pricing allows profitable transfers to other MEAG participants. Staff also reviewed recent spot‑market spikes in December that increased short‑term revenues from off‑system sales.
Water system figures were mixed. 'Griff' presented water metrics, saying water sales for the month averaged about 72,700,000 gallons per day, slightly ahead of the budgeted 72.5 million and producing operating income that exceeded the monthly budget. Council members asked whether the observed dip in some months was localized to Marietta or seen regionaly; staff flagged potential meter issues on the Cobb County side (Cobb County owns the meter) as one possible cause.
What happens next: staff did not propose immediate rate changes; council and BLW staff described the refund and supplemental sales as tools to mitigate future costs and support upcoming financing needs. The council did not take a final vote on how to apply the MEAG refund during the work session.