NPPD won't need rate hike in 2014, CEO says
COLUMBUS, Neb. (AP) — Nebraska Public Power District won't need a rate increase next year after all.
President and CEO Pat Pope told the utility's directors at their meeting Wednesday in Columbus that strong summer revenue streams and expense cuts eliminated the need for any rate hikes. The expense cuts included staff reductions.
In July NPPD said it would be lowering its rate increases to 2 percent next year from an earlier forecast of 3.5 percent. The 2 percent increase would have cost an average retail customer using 1,000 kilowatt hours a month between $2 and $3 more each month.
This year's rate hike of 3.75 percent was the district's seventh general increase in seven years.
NPPD helps serve an estimated 600,000 Nebraskans in 86 counties with retail or wholesale.
Copyright 2013 The Associated Press