Grand Forks’ Electric Utility consultant is recommending a 3.1% rate increase starting in March.
Alex Love – who is also the GM of Nelson Hydro – says this is to combat rising costs – most significantly their wholesale power purchase which is nearly 75% of the overall utility budget.
Love explains the hike is the equivalent of a 2.5% increase had it been implemented on January 1st of this year.
In Love’s report to Grand Forks he forecast power purchase costs for 2015 of over $3.2 million with revenue from rates at $4.2 million.
He adds that is slightly better than last year.
*Picture – City of Grand Forks
