Edmond Electric will raise its rates
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Published: November 11, 2009
EDMOND — Rates for Edmond Electric average residential customers will increase between $10 and $11 a month, the Edmond City Council decided Monday.
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Competing discount
For competitive reasons, Edmond’s practice has been to offer a discount from Oklahoma Gas and Electric Co. rates.
In most cases, Edmond customers will see a 4 percent discount from OG&E rates, Smith said. OG&E recently received approval for a rate increase by the Oklahoma Corporation Commission.
University of Central Oklahoma, Edmond Electric’s largest customer, will get an 8.4 percent rate increase. If UCO were charged for electricity under OG&E’s new plan, the university would have been faced with a 20 percent rate increase, Smith said.
Consultants estimate the net increase in revenues to be $5.1 million per year.
The city’s five-year financial plan for Edmond Electric falls short $1.1 million of meeting the 45-day emergency and shortfall reserve in year three without a rate increase, Smith said.
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