Title
Introduction of Incorporated County of Los Alamos Code Ordinance No. 02-351; An Ordinance Amending Chapter 40, Article III, Sections 40-121, 40-122, and 40-123 of the Code of the Incorporated County of Los Alamos Relating to Electric Rate Schedules, Customer Service Charges and Electric Energy Charges
Recommended Action
I introduce, without prejudice, Incorporated County of Los Alamos Code Ordinance No. 02-351; An Ordinance Amending Chapter 40, Article III, Sections 40-121, 40-122, and 40-123 of the Code of the Incorporated County of Los Alamos Relating to Electric Rate Schedules, Customer Service Charges and Electric Energy Charges.
Utilities Manager's Recommendation
The Utilities Manager recommends that the Board introduce this Code Ordinance as presented.
Body
The Department of Public Utilities has not raised electric rates since 2015. The adopted FY2024 budget includes an 8% increase in revenue anticipating an electric rate increase. DPU contracted with for an electric rate study and cost of service study. The proposed rates are based on the results of the rate study portion of the contracted work. DPU is proposing rate increases for both FY2024 and FY2025. The cost of service study is ongoing and we anticipate those results to impact rates in FY2026. Staff is developing a work plan on improving the billing software to offer more flexible usage rates such as time of use and/or demand charges to the electric rates which is planned to be implemented in FY 2026.
Proposed Public Hearing Schedule: August 16, 2023
Proposed Public Hearing Schedule: September 26, 2023
Alternatives
If this ordinance is not introduced and approved, revenues will not be sufficient to match budgeted FY2024 revenue which will directly impact cash balances
Fiscal and Staff Impact/Planned Item
The revenues for FY2024 assume a rate increase and will only be achieved if the new rates are approved.
Attachments
A - Code Ordinance 02-351 Ele...
Click here for full text