December 08, 2009
Commissioners on Monday adopted a $307.5 million dollar budget. It continues the pattern of spending cuts that were made after market power prices dropped due to the recession and water runoff was far less than expected. The PUD imposed a 9-percent electric rate surcharge last May that will remain through April 2010. A new rate design is then scheduled to take effect in May that would raise bills for high energy users but keep costs about the same or slightly less for about 70 percent of PUD residential customers. Following the Board’s action. Commissioner Randy Smith commented . . .
120809 PUD Budget . . . 46 sec. “together”
Depending on spring runoff and surplus power revenue the range of possible financial outcomes for the PUD in 2010 now runs from the most optimistic case of $6 million in the black to a worst case of $32 million in the red. The PUD anticipates having approximately $228 million in cash reserves to start the new year, and those reserves would help cover the shortfall, leaving an estimated $216 million in the bank at the end of next year.