Chief Financial Officer Jim Tracy says SMUD is proposing a 2.5% increase in each of the next two-years.
“We need the revenue for covering the energy that we’re buying for the state mandates under the 33% renewables. Renewables tend to be more expensive than other forms of power. This will be our first increase since 2011.”
Tracy says if the increases are approved, most people will see their rates go up by two-dollars a month next year and another two the following year.
A workshop on the rate proposals is set for tomorrow morning at 10 AM at SMUD headquarters on “S” Street in East Sacramento. The SMUD Board could make a final decision in mid-July.