HomeMy WebLinkAboutStaff Report 254-05CMR:254:05 Page 1 of 2
TO: HONORABLE CITY COUNCIL
FROM: CITY MANAGER DEPARTMENT: UTILITIES
ATTENTION: FINANCE COMMITTEE
DATE: MAY 19, 2005 CMR:254:05
SUBJECT: UTILITIES ADVISORY COMMISSION RECOMMENDATION TO
APPROVE A RESOLUTION ADOPTING AN ELECTRIC RATE
INCREASE
RECOMMENDATION
The Utilities Advisory Commission (UAC) and staff recommend that the City Council adopt the
attached resolution to increase the electric base revenue of FY 05-06 by approximately $14.1
million or 19.5 percent, to be effective July 1, 2005.
DISCUSSION
This rate increase proposal has two objectives: 1) to maintain Supply Rate Stabilization Reserve
(SRSR) balance in line with the guidelines approved by the Council, which take into
consideration all the uncertainties related to regulatory issues and market prices, and 2) to meet
the high wholesale commodity prices which are expected for Fiscal Year 2005-06, as well as
future years.
BOARD/COMMISSION REVIEW AND RECOMMENDATIONS
The UAC reviewed this recommendation and approved it on a unanimous vote (4-0, Dahlen
absent) at the May 4, 2005 meeting.
RESOURCE IMPACT
Approval of this proposed rate increase will raise the Electric Fund base sales revenues by
approximately $14.1 million for FY 05-06.
ATTACHMENTS
A: Resolution
B. Electric Rate Schedules E-1, E-1-G, E-2, E-2-G, E-4, E-4-G, E-4-TOU, E-7, E-7-G, E-7-
TOU, E-14, E-16, E-18, and E-18-G
BUDGET
‘05 –
CMR:254:05 Page 2 of 2
C: Minutes of the UAC meeting of May 5, 2004
PREPARED BY: Lucie Hirmina _____
Utilities Rates Manager
Tom Auzenne _____
Assistant Director of Utilities, Administrative Services
DEPARTMENT HEAD: _________________________________
JOHN ULRICH
Director of Utilities
CITY MANAGER APPROVAL: _________________________________
EMILY HARRISON
Assistant City Manager