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8.35%. Based on the proposed rate, a residential customer that consumes 400 kWh in a month <br />would see an increase of $4.04. This equates to a daily increase of 140 to maintain the reliable <br />electric service the utility provides. <br />The monthly minimum charge, however, is being increased from $4.03 to $6.37 because the <br />existing minimum charge is far below what the cost -of -service study indicated it should be. <br />The rate for all other classes of customers is being increased by 8.35%. In addition, a new time - <br />of -use rate:, LGS TOU-1 was developed for large commercial customers with significant mid -peak <br />and off-peak consumption. Mid -peak hours during the summer are from 6 pm to 11 pm; off-peak <br />hours are from 11:01 pm to 11:59 am. <br />At the October 17, 2005 meeting of the Utilities Commission, the Commission approved the <br />electric rate increase and recommendation to the council. At this time, staff is requesting to set the <br />public hearing for the electric rate increase for December 06, 2005. <br />FINANCIAL IMPACT: <br />The additional revenue generated by the proposed rate increase will substantially offset the <br />projected shortfall for fiscal year 2005-2006. <br />ENVIRONMENTAL IMPACT: <br />None. <br />CONFLICT OF INTEREST — Gift Disclosure Requirements <br />None. <br />RECOMMENDATION: <br />Staff recommends that the public hearing for the increase in electric rates be set for December <br />06, 2005. <br />REVIEW TEAM ONLY <br />City Attorney: Finance Director:ll3t <br />City Manager: = OTHER: <br />