Austin Energy says the utility's 'existing deficit and ... rising costs' are driving higher bills for ratepayers.
At its meeting today, Sept. 29, City Council will consider increasingelectric bills by about $20 per month for the average residential customer. That's on top of the controversial hike the ratepayer-owned utility has proposed to itspass-through charges
, though not very well timed, is an annual occurrence each fall as the city begins its new fiscal year on Oct. 1, and in the utility's own words is intended to"collect only what the utility pays for certain expenses." In other words, there's no markup for Austin Energy.
As with its proposed base rate increase, AE says the utility's"existing deficit and ... rising costs" are driving higher bills for ratepayers. The pass-throughs include an"extraordinary rise" in ERCOT market costs over the summer, when, AE explains that the cost of natural gas power in the ERCOT market has doubled over the summer-peak prices in the last two years.
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