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Grand Forks electricity hike likely

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

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