COLDWATER, MI (WTVB) – The Coldwater Board of Public Utilities passed a resolution Wednesday night that would raise overall electrical rates by two percent on September 1.
The resolution was passed following a study from Utility Financial Solutions and sent on to the City Council where it will be on their Monday night meeting agenda.
Dawn Lund from U.F.S. conducted the cost of service study on the B.P.U.’s telecommunications and electrical sections.
She said during her presentation if rates remained the same, there would a be a negative cash flow for the electrical department by 2027.
Over 5,900 residential service customers will see a monthly increase of over three dollars.
Board member Terry Ann Whelan questioned why residential customers would see a four percent increase.
Projected revenues for the changes in electrical rates would increase revenues by over $990,000 during the next year.
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