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City Manager recommends electric rate study; staff flag potential 1-cent per kWh increase
Summary
Electric utility staff told council their fund balance is low and several CIP projects are underfunded; the City Manager recommended a rate study and said a 1-cent per kWh increase could be implemented in December if the study supports it. Mayor Pro tem Nick Fritz favored raising electric rates over taxes.
Shane Lewis presented the electric utilities budget during the April 27 workshop, noting several capital improvement projects in the CIP are unfunded or underfunded and that the utility’s fund balance is lower because rates have not been increased since 2009 and were reduced…
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