EPB Able To Hold Off Rate Increase, Though Transformer Costs Are Soaring

Saturday, June 25, 2022 - by Gail Perry

The new EPB budget that was approved at the Friday morning board meeting includes no rate increase.

David Wade, president and CEO, said, "We have worked hard to manage costs." Good weather also contributed to the ability to hold the rate.

There also will be no rate increase in Internet service, but because the cost of video continues to go up for EPB it will require an increase is passed on to customers. The trend is also that operational expenses are going up.

A significant budget item is that the price of transformers has about doubled, said Mr. Wade. In a typical year, the cost would be about $9 million but the cost is now $12 million. Because of the increase in need and the difficulty of getting transformers this year, inventory has been used with the growth of businesses and new subdivisions, and the stock now needs to be replenished. 

A new substation is also planned for a high growth area in the city.

New computers and automation to replace old systems is important now to protect from cyber risks, he said. 
     


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