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Anderson board backs 12.6% electric revenue increase, authorizes bond cap to fund upgrades
Summary
The Board of Public Works voted to recommend a 12.58% overall revenue increase for Anderson Municipal Light & Power and approved a bond authorization cap (up to $5.3 million) to fund a $19.5 million capital-improvement plan including substations, underground cable and cybersecurity upgrades.
The Board of Public Works of the City of Anderson voted to recommend revised electric rates and a bond authorization to the City Council on motions passed in the board meeting beginning at 1:30 p.m.
Attorney Chris Chinnock, representing the utilities, outlined procedures for electric-rate changes and noted electric actions are subject to final approval by the Indiana Utility Regulatory Commission. Jennifer Wilson of Crowe presented a revenue-requirement analysis showing the utility needs an additional $12 million in revenue, producing a 12.58% overall increase in revenues. Wilson said the…
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