Title
Rate Design Presentation
Body
The purpose of the presentation is to provide an overview of three ordinances that will be brought forward in March. The ordinances address increases related to electric rates, wastewater rates and electric time-of-use structure and rates.
The schedule for the ordinances is:
BPU Introduction of Ordinances March 19, 2025
Public Hearing & BPU Consideration April 16, 2025
Council Introduction of Ordinances May 6, 2025
Public Hearing & Council Consideration June 10, 2025
The revenues associated with the electric and wastewater rate increases are included in the FY2026 proposed budget and the FY2027 projections.
The purpose of enacting the Electric Time of Use rate structure through an ordinance now is to:
1) allow for the minimum time needed to implement the billing system to accommodate time of use and residential demand (minimum 12 months);
2) the rate structure would not take effect before July 1, 2026; and
3) provide a twelve-month education period for ratepayers ahead of the new structure taking effect.
Attachments
A - Overview of Rate Ordinances