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Board adopts resolution asking New York Power Authority to conduct electric rate study
Summary
The board voted to ask the New York Power Authority to perform a roughly year-long electric rate study to identify revenue needs for planned system upgrades, including a transformer purchase; a staff member said a rate increase may be required and public hearings will be part of the process.
The board unanimously adopted a resolution requesting that the New York Power Authority undertake an electric rate study to identify the revenue implications of planned system upgrades, a staff member told the board. The resolution directs staff to provide NYPA with the information the authority needs to begin the study.
A staff member summarized the immediate drivers for the study, saying the municipality will likely need a rate increase to fund the upgrades. “We’re gonna have to have a rate increase to be able to find those,” the staff member said, and added that the study “will take approximately a year.” The staff member also said the board is meeting with NYPA in person next week, that NYPA will require data from the municipality, and that NYPA will hold public hearings as part of the approval process. The staff member noted the municipality has completed an RFP for the first transformer and that a deposit will be required for that purchase.
Board members did not raise substantive questions before adopting the resolution by voice vote. The staff member offered to schedule special meetings if needed to align the board’s calendar with NYPA’s process; the board did not vote on any rate changes at the meeting and no timetable for a rate increase was set.
