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For residential customers, there is no change proposed for the first 250 kWh of energy <br />consumed. Based on the proposed rate, a residential customer that consumes 400 kWh in a <br />month would see an increase of $4.10 in the energy component of their bill. This equates to a <br />daily increase of 14¢ to maintain the reliable electric service the utility provides. <br />The monthly minimum charge for residential customers, however, will become a monthly <br />customer charge of $7.65 to recover fixed costs associated with serving the customer, such as <br />billing, meter reading, and cost of meters. <br />In conjunction with the rate increase, the Electric Utility will be providing expanded relief to <br />customers. The income guidelines for the Low Income Assistance Program will be relaxed by <br />15%, and all -electric customers would be eligible for assistance twice a year. <br />Number in Household Gross Annual Income <br />1 or 2 <br />$35,075 <br />3 <br />41,170 <br />4 <br />49,680 <br />5 <br />58,190 <br />6 <br />66,700 <br />Each additional member add <br />7,400 <br />FINANCIAL IMPACT: <br />The additional revenue generated by the proposed rate increase will substantially offset the <br />projected shortfall for fiscal year 2008-2009. <br />ENVIRONMENTAL IMPACT: <br />None. <br />CONFLICT OF INTEREST — Gift Disclosure Requirements <br />None. <br />RECOMMENDATION: <br />Staff submits this report for review and discussion. The request for approval of the proposed rates <br />will be presented at the March 3, 2009 City Council meeting. <br />REVIEW TEAM ONLY <br />City Attorney: b . bQJttttk ( � <br />City Manager: <br />Attachment: Current and Proposed Rates <br />Finance Director: <br />OTHER: <br />