We have roughly $4.4 billion in assets – from power plants and reservoirs to underground pipes and wires. And we’re getting bigger.
To make sure we keep our system safe and reliable, we have a large capital plan for the coming years.
We pay for the major projects in this plan through a mix of rates paid by customers and by selling bonds. Last week, our Treasury and Finance Department successfully obtained $225 million in new proceeds at 4.3% interest. This secures the new funds for the debt-backed portion of our 2023-2024 capital plan, at favorable terms.
They also refinanced $192 million in existing bonds that were issued in 2013. This reduces the cost of that debt by $25 million over the next 22 years.
We were also able to take advantage of other market opportunities to save an additional $915,000 for our customers.
These are all steps we take to provide the best possible service to our community and keep rates competitive.
Read more about our key projects and budget drivers of the proposed 2024 Budget and Rate Case.
