| Oct. 6, 2004
For More Information Contact: Commissioners adopt electric rate increaseEugene Water & Electric Board commissioners on Oct. 5 adopted a 5.7 percent rate increase, effective with November bills. The rate change adds about $4.50 to the average residential customer’s monthly electric bill. One-third of the increase covers higher Bonneville Power Administration wholesale electricity costs. The federal agency, which supplies EWEB with more than 70 percent of its power, is increasing the cost of the electricity it sells to EWEB by about $3.1 million. The remaining two-thirds of the 5.7 percent increase provides greater financial stability during low-water years. The region is in the fifth consecutive year of below-average precipitation, which has reduced hydroelectric generation and revenues. Due to lost hydropower generation, EWEB expects its power-sale revenues to fall short by almost $8 million in 2004. The rate increase was approved following two public hearings in September and October. The increase includes elimination of the Power Cost Recovery Surcharge and an increase in the Energy Charge, for a net overall increase of 5.7 percent. Small general service customers will see rates increase by 3.7 percent. Rates are increasing by 5.1 percent for medium general service customers and by 5.7 percent for large general service customers. EWEB, Oregon’s largest customer-owned municipal utility, serves about 83,000 electric customers in Eugene and the McKenzie River Valley. A five-member elected board makes all rate and policy decisions for the utility. -- end -- |