Title
Electric Rate Design Proposal
Body
Staff has prepared an electric rate design update. The electric rate design closely follows the recommendations provided in the May 1, 2024 Electric Cost of Service Rate Study prepared by GDS Associates, Inc. Please keep in mind that DPU is still in budget development and the rate design proposal is subject to change. The update includes the following:
1. FY2024 Electric Distribution financial results and updated projections;
2. Preliminary FY2026 and FY2027 rate recommendations;
3. Status of Time of Use software solution; and
4. Potential Time of Use and Residential Demand rate design.
The update also includes a timeline for the next rate increase:
March 19, 2025 BPU Introduce Ordinance
April 16, 2025 BPU Ordinance Consideration
May 6, 2025 Council Ordinance Introduction
June 10, 2025 Council Ordinance Hearing
July 1, 2025 Electric Rate Effective Date
Attachments
A - Electric Rate Design Presentation
B - Electric Cost of Service & Rate Study