OPPD for the first time in five years has proposed a 2.5% increase in retail rates. That’s according to OPPD’s preliminary 2022 Corporate Operating plan.The preliminary operating plan for 2022 was presented to the OPPD Board of Directors at their committee meetings this week. Due to the increased cost of materials and labor the plan outlined what would be a projected revenue deficit of nearly $26 million in the coming year.“This year began a period of transformation for OPPD, which will continue in 2022 and beyond,” said OPPD President & CEO Javier Fernandez. “Our employees are working on innovative projects and initiatives that will position the utility well to continue our mission of providing affordable, reliable and environmentally sensitive energy services.”OPPD officials say the company conducted extensive research to determine the exact figures that will satisfy OPPD’s budgetary needs, while minimizing the monetary impact to customers as much as possible. The proposed budget would see OPPD’s residential customers with a rate increase of 3.2%, when averaged throughout the year. This would equal about $35.60 more over the course of a year for customers using approximately 1,000 kilowatt-hours per month, The increase for industrial customers would also be 3.2%. It would be 0.9% for commercial customers, and 2.5% for lighting customers, such as municipalities and sanitary improvement districts.The rates previously have held steady for customers with no general rate increases for the past five years.OPPD’s board will vote on the plan next month. The increase would start January first.
OPPD for the first time in five years has proposed a 2.5% increase in retail rates. That’s according to OPPD’s preliminary 2022 Corporate Operating plan.
The preliminary operating plan for 2022 was presented to the OPPD Board of Directors at their committee meetings this week.
Due to the increased cost of materials and labor the plan outlined what would be a projected revenue deficit of nearly $26 million in the coming year.
“This year began a period of transformation for OPPD, which will continue in 2022 and beyond,” said OPPD President & CEO Javier Fernandez. “Our employees are working on innovative projects and initiatives that will position the utility well to continue our mission of providing affordable, reliable and environmentally sensitive energy services.”
OPPD officials say the company conducted extensive research to determine the exact figures that will satisfy OPPD’s budgetary needs, while minimizing the monetary impact to customers as much as possible.
The proposed budget would see OPPD’s residential customers with a rate increase of 3.2%, when averaged throughout the year. This would equal about $35.60 more over the course of a year for customers using approximately 1,000 kilowatt-hours per month,
The increase for industrial customers would also be 3.2%. It would be 0.9% for commercial customers, and 2.5% for lighting customers, such as municipalities and sanitary improvement districts.
The rates previously have held steady for customers with no general rate increases for the past five years.
OPPD’s board will vote on the plan next month. The increase would start January first.