COLDWATER, MI (WTVB) – The Coldwater Board of Public Utilities Board of Directors approved an overall electric rate increase of two-point-nine percent Wednesday night that is scheduled to take effect on September 1, 2024.
CBPU Director Paul Jakubczak says a Cost of Service study completed by Utility Financial Solutions in April of 2023 identified a five-year rate track.
UFS updated their projections based on the final results for Fiscal Year 2023 and the preliminary results for the first eight months of Fiscal Year 2024. At the same time, they considered revisions to the rolling five-year capital forecast. UFS thus updated their projections to reflect the rate increase.
Jakubczak said most residential customers will see an average increase of $1.50 to $2 per month.
The CBPU also offers an EcoSmart Choice Program rate as an option that customers can enroll in. The program is offered through American Municipal Power.
The Coldwater City Council is scheduled to take action the proposed rate increases during their meeting Monday night.
In other business, the CBPU Board approved a $661,000 bid from Donohue and Associates to complete the final engineering design for construction of an upgraded and expanded Water Resource Recovery Facility.
Donohue and Associates had the lowest of the three bids submitted for the work over the next two years. The plant is getting close to its rated plant capacity. The CBPU has been working with the State of Michigan over the last couple of years to try and rerate the plant while a long-term plant expansion plan was developed.
Comments