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Council approves DWP plan to seek $180 million in debt for distribution work; department forecasts $318 million extra need
Summary
LADWP officials told the council the utility now forecasts roughly $318 million more needed for distribution improvements and proposed issuing $180 million in debt for distribution projects; staff said the issuance would have a minimal long‑term rate impact and individual contracts will return to council as required.
Department of Water and Power officials told the Los Angeles City Council that changes in load growth and capital needs require increased investment in the utility’s distribution system, and the council approved a financing framework to meet that need.
Bob Rozanski, assistant chief financial officer for the Los Angeles Department of Water and Power, said an updated review of operating and capital budgets shows the department now forecasts roughly $318,000,000 more in distribution-related improvements than were envisioned in the original action plan. To fund part of that increased…
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