Stanhope reviews electrical audit recommending 3% first-year rate hike; first reading set for next month

Mayor Pro Tem Kempton Young presented findings from an electrical audit and a cash-flow projection dated Aug. 7, 2025, noting Stanhope has not raised electrical rates since 2014. The audit firm recommended a staged rate increase — 3% in the first year and 2% in subsequent years — to address projected cash-flow shortfalls.

Young told the council a printed cash-flow projection was made available to attendees and that the recommended change will come back as a first public reading at the next council meeting. Council did not vote on a rate change at the Oct. 14 meeting; members discussed timing and next steps. Mayor Pro Tem Young and staff indicated the item will be presented publicly for comment at the statutory first-reading step before any final action.

The audit also included a list of suggested infrastructure repairs (presented later in the meeting under the CIT Solutions agenda item) that may require additional capital work and potential outside funding. Council members indicated they will consider grant opportunities and include the rate proposal in next month’s agenda so residents can comment during the public hearing phase.

No rate amounts beyond the percentage recommendations were finalized at the meeting; council members emphasized that the first public reading and future communications will provide residents with the specific ordinance language, timing and effective dates.