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Bowling Green utility officials present five-year plan that would raise residential bills beginning in 2026
Summary
Public infrastructure director Brian O'Connell told council a rate study shows revenues no longer cover costs and proposed a 7% increase in 2026 followed by 5% annual adjustments through 2030, plus short-term borrowing to meet debt-service and capital needs.
Public infrastructure director Brian O'Connell presented a cost-of-service rate study to Bowling Green City Council outlining a multi-year plan to stabilize the electric utility’s finances.
O'Connell said the study identified three primary problems: "current revenues do not meet the current expenses," the city will not meet its debt-service coverage ratio in 2026 and 2027 for the JV5 Belleville hydro project under the current rate structure, and the electric fund balance will be insufficient to cover future capital projects. To address those gaps, he proposed a 7% rate increase in 2026 and 5% increases each year thereafter through 2030, $7 million in borrowing in…
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