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Steep Electricity Rate Hikes Expected In Glendale
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Robert Thiemann
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Topline:
Glendale Water & Power will raise electricity rates by about 14.8% on Dec. 1, followed by an average hike of 11.3% on July 1 in 2024 and 2025. The hikes will fund the city’s Grayson Repowering Project, the Biogas Renewable Generation project in Scholl Canyon, a solar project and cover general increases in costs of renewable energy, power and fuel.
The projects: According to Dave Davis, the city’s utility finance manager, the Grayson Repowering Project — which will replace old equipment at the Grayson power plant — is expected to cost the city $530 million. The Scholl Canyon project is expected to generate approximately 12 megawatts of renewable energy for the city and will cost around $70 million.
Around $500 million for these projects will be derived from the issuance of bonds, which the electric rate hikes will pay for. The remaining $100 million for the projects will come from the city’s cash reserves.
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Who bears the brunt: Rate increases will vary depending on whether the customer is residential or a small, medium or large business. In the next phase of the Cost of Service Analysis (COSA), staffers will work with energy consultant NewGen to determine the rate increase per the customer class.
A graph shown Monday at a GWP community meeting shows how residential users and small businesses might see steeper rate increases than large businesses. Residential and small business users could see a 18-20% increase, while large businesses would see a 10% increase.
What's next: The GWP is holding two more community meetings for residents to learn more about the rate hikes. One is on Oct. 18 from 6:30 p.m. to 8 p.m. at the Glendale Police Community Room and on Oct. 19 at 6:30 p.m. to 8 p.m. at the Sparr Heights Community Room.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
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