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Eldridge board approves PFM electric rate study; staff expects 9–12 month review
Summary
The Eldridge Electric and Water Utility Board voted to authorize PFM to perform a comprehensive electric rate study that will analyze customer-level usage, comparative rates and rate structure options; PFM estimated the work could take 9–12 months.
The Eldridge Electric and Water Utility Board approved hiring PFM to conduct an in-depth electric rate study that will examine customer usage and rate-structure options and deliver recommendations to the utility.
During discussion Carrie Schwartz of PFM described the study as a more labor-intensive review than the annual cash-flow update provided for water: it will analyze multiple years of customer data, provide comparative rates and propose rate-structure options. “Usually, it takes 6 to 12 months,” Schwartz said; for electric she estimated the work would likely take about 9–12 months to complete.
Board action: A motion to authorize PFM to conduct the electric rate study was made by Hevington and seconded by Gooding and passed with aye votes.
What will be covered: PFM said the study will produce a detailed cash flow, review wholesale/demand projections and include comparative benchmarking. Staff will coordinate data access and reports to enable PFM’s customer-level review.
Next steps: Staff will work with PFM to scope data requests and set a timetable for the study; PFM will return with options and a recommendation when the analysis is complete.
