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UAC backs 6% electric rate increase and $5M transfer for grid modernization
Summary
The Utilities Advisory Commission voted 6–1 to recommend a 6% FY27 electric rate increase and a $5 million transfer from distribution operations to the CIP reserve to support the grid modernization program and to enhance the hydro-rate stabilization reserve.
The Utilities Advisory Commission reviewed staff’s FY27 electric financial forecast and recommended the City Council approve a 6% overall electric rate increase for FY27.
Director Belier told the commission that roughly half of the electric utility’s costs are supply related and the rest are for distribution and operations. Staff proposed a 6% increase — described as a 4.5% distribution increase combined with supply adjustments — to fund a multi-year grid modernization capital program the city plans to finance in…
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