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Traverse City Light & Power proposes 5% base rate increase as part of 2026–27 budget
Summary
Traverse City Light & Power (TCLP) presented its 2026–27 budget proposing a 5% base rate increase to address purchase-power volatility, fund six strategic positions and support fiber expansion; TCLP staff emphasized a 12‑month rolling pass-through and customer-assistance plans for low-income residents.
Traverse City Light & Power on May 11 presented a proposed 2026–27 budget that includes a 5% base rate increase and targeted investments in staffing, infrastructure and fiber expansion. Carla Myers Beeman, chief financial officer for TCLP, told the city commission the increase is aimed at improving near-term financial stability amid regional market volatility and higher wholesale power costs.
"We are proposing a 5% base rate increase, to address utility financial needs," Myers Beeman said, and described conservative budgeting for purchase-power amid recent market spikes that saw wholesale prices jump during a January storm. She said the utility budgets purchase power conservatively because weather and market events have driven volatility.
Why it matters: TCLP officials said the proposed increase will not fully close a…
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