COLDWATER, MI (WTVB) – An Electric Cost of Service Study and Rate Design report that was presented to the Coldwater Board of Public Utilities Board of Trustees Tuesday shows that the utility is financially stable.
Utility Financial Solutions of Holland said in its report that the CBPU is not projected to require increases in rates charged to customers, and is projected to meet or exceed all financial targets over the projection period which ends in 2023.
The report stated the CBPU’s cash balances are strong and increasing due to lower than average capital improvement program. Projected cash balances are above the recommended minimums during the projection period.
This report was prepared to provide the CBPU with an examination of its existing rate structure by an outside party.
