Rate study on city council agenda
Published 8:57 am Saturday, December 12, 2009
FRANKLIN—Michael Stoneham, director of Franklin Power and Light, is expected to appear before the City Council Monday night to present his recommendations on the findings of the recently completed study of electric rates.
GDS Associates Inc., a Marietta, Ga.-based consulting and engineering firm, started a study of the city’s electric rates last summer and reported the results during a work session in October. The study found that the city’s electric rates are competitive with other providers, but they aren’t adequate in terms of providing revenue.
Except for fuel adjustments, the city’s electric rates have remained unchanged for nearly nine years. However, new agreements with the Virginia Municipal Electric Association and Dominion—where the city buys power—could mean higher rates.
City Manager June Fleming said that Stoneham will make his recommendations regarding rates during a 5:30 p.m. work session. The City Council will then have an opportunity to make additional suggestions for GDS Associates Inc., as the firm prepares its final recommendation.