No Electric Rate Increase Anticipated For Richland Customers In 2014
City of Richland Energy Services (RES) anticipates that no retail electric rate increase will be necessary in 2014. Although RES staff projects a 4% average revenue deficit, reserve funds and internal cost controls will be used to cover that deficit.
“We’re happy to announce our intention to keep electric rates level in 2014,” says Bob Hammond, Energy Services Director. “We understand that rate increases impact all customers. Our staff emphasis is on efficient operations in order to keep our costs as low as possible while providing reliable service to our customers.”
BPA has announced wholesale power rate increases of approximately 7% for RES that became effective October 1, 2013. While this will probably drive a retail rate increase for RES customers in 2015, analysis indicates we should be able to cover those increased costs through 2014. That assumes normal weather patterns and no substantial operating cost increases.
RES will conduct another cost of service analysis in early 2014 to determine the extent of the rate increase anticipated for 2015.
Information about RES and energy efficiency is available at http://www.ci.richland.wa.us/EnergyServices.