AGENDA CAPTION:
Title
Consider approval of Ordinance 2022-40, on the second of two readings, increasing electric utility rates charged for Large Independent, Redundant Service and Large Distributed Generation Standby Service customers; and including procedural provisions; and providing an effective date.
Body
Meeting date: June 7, 2022
Department: Utilities, Tyler J. Hjorth - Director
Amount & Source of Funding
Funds Required: N/A
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Fiscal Note:
Prior Council Action: 2018-33 and 2018-33(b) approving these rates.
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Background Information:
The rates as recommended by the Citizens Utility Advisory Board and approved by City Council in September 2018 were set using cost of service data from 2015. In 2021, new electric cost of service studies were performed and indicated costs had risen significantly since 2015 due largely to materials and labor inflation rates. As a result, Utilities and its Rate and Cost of Service consultant, GDS, revisited the LIRS and LDGS rates since they are heavily reliant on cost of service. It was determined that adjustments were needed to bring these rates to current values. The updated rates were presented to CUAB in March 2022, and CUAB recommended both un...
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