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The City of Fayette will hold a public hearing regarding proposed increases in electric rates. The hearing will be held in conjunction with the council’s next regular meeting at 6 p.m. on …
The City of Fayette will hold a public hearing regarding proposed increases in electric rates. The hearing will be held in conjunction with the council’s next regular meeting at 6 p.m. on Tuesday, December 13.
As was previously reported in the Advertiser, the city council gave unanimous approval during its most recent meeting on Tuesday, November 22, to draft an ordinance to increase rates by 10% for residential customers and 3% for commercial customers to achieve an overall 6% increase. The council is expected to approve the ordinance following next week’s public hearing.
The decision to raise rates stemmed from a recent study conducted by Toth and Associates regarding Fayette’s electric rates, which have remained steady since 2007. Residential customers will face the brunt of the increase to lessen the disparity between the two sectors. Currently, commercial customers, which already pay higher rates, effectively subsidize the residential side.
Residential customers can expect an average increase of $7 a month, while businesses will see hikes between $50 and $75 on average.
The council is expected to later approve smaller, annual increases over the next five years to keep up with expenses.
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