As a non-profit, community-owned utility, we pass changes in fuel costs—up or down—directly on to our customers. On Oct. 25, City Council voted on increases to the Electric Cost Adjustment (ECA) and Gas Cost Adjustment (GCA) to take effect Nov. 1.
Following a lengthy period of low fuel costs, we've refunded $18.1 million to customers through lower rates in 2016.
With the Nov. 1 increases the ECA and GCA amounts are virtually the same as they were in fall of 2015 (prior to the refund period). The changes will take us out of refund mode for electric, aligning customer rates with our fuel costs. We expect the gas cost adjustment to come in to full alignment with our costs in early 2017.