By: Zachary Lopez (ZachNews):
Source: City of Needles (Information):
Needles, California: Members of the Needles City Council and Needles Public Utility Authority will vote on 5% cost-of-living increase in electric rates during at 6:00 p.m. PT on Tuesday, September 14th, 2021 inside the Needles City Council Chambers located at 1111 Bailey Avenue near J Street.
According to the City of Needles, the Statement of Policies, revised August 2018, provides that power rates will be designed to provide for operation and maintenance, bond payments, purchase payments, taxes, fair share allocation, trustee fee, mandated (but unfunded) state or federal program (conservation program), the asset replacement fund, and the actual costs to purchase power.
The calculated rate will consist of two components: power purchase costs, and non-power purchase costs.
The CPI for the USDLS U.S. West — Size Class B/C for June 2020 indicates a 6% cost of living increase, The policy sets a cap at 5%.
The attached spreadsheets are in accordance with the revised Statement of Policies and will set the new rates as follows:
** Current rates were $0.1279 effective August 1, 2021. The rates calculated above incorporate the recently adopted PCA formulas, CPI and inflation increase and provide adequate revenues to support the FY 22 budget and adjustments in power purchase expenditures.
Fiscal impact is increase in revenues for COLA adjustment to counteract current inflation rates.
The recommended action is move to approve a 5% cost-of-living (COLA) increase in electric rates as of October 1, 2021; an Over-hydro rate of $0.1285 effective October 1, 2021; and approve the methodology to calculate the annual electric base rate and the power cost adjustment rate based on the rate calculation spreadsheets
The Board of Public Utilities approved the recommended action on September 7, 2021.
*** Agenda Packet Information (Unless otherwise noted, all downloadable agenda packets that are posted here are in a PDF file format so please make sure to have a PDF file reader or viewer): ***
The public may attend the meeting but masks are encourage and designated seating will be available.
The public can also attend via Microsoft Teams and May submit any comments in writing prior to noon (12:00 p.m. PT) on the day of the meeting by emailing: firstname.lastname@example.org
The public can join the live Microsoft Teams meeting by please logging into the City of Needles website at: http://www.cityofneedles.com to access the agenda and click the link.
If asked, enter the following: Meeting ID: 528 489 648# OR listen in and participate by calling Teams: 1-323-488-2227 – Meeting ID: 528 489 648# The meetings are being recorded.
The interview portion of the meeting as well as the rest of the Needles City Council Meeting will be broadcast live at ZachNews on Facebook.
For more information, please contact Dale Jones, City Clerk at the City of Needles at: 1 (760) 326-2113.