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David Stanley Ford

Edmond Electric will raise its rates

BY DIANA BALDWIN    Comments Comment on this article0
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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The new rates will take effect Jan. 1.

Smaller commercial customers will receive a 2.6 percent to 4.7 percent rate increase, while public schools will see a .3 percent decrease. Larger electric accounts will have an 8.4 percent increase.

Assistant City Manager Jerry Smith said the increase is needed because of the continuing cost increases in equipment, labor and contractual services for construction, maintenance and operations of the distribution system.

Oklahoma Municipal Power Authority, the city’s wholesale power supplier, also will see a 2.4 percent increase next year and possibly the same for 2011, Smith said. Those costs will be passed on to Edmond customers.

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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David Stanley Ford


Related Topics: Politics, Local Politics


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