Study proposes electricity rate cut

Boulder City residents could see a reduction in their electric utility rates if City Council follows a recommendation given in a recently completed study.

The utility rate study, conducted by Raftelis Financial Consultants Inc., was presented and discussed Wednesday at a joint workshop for the City Council and Utility Advisory Committee.

According to its report, Raftelis is recommending the city reduce electricity rates by 3 percent for all customers, reduce the fixed monthly charge for water by $10 and accelerate payments on the debt for the raw waterline.

For the water utility system, Raftelis is recommending equalizing the charges for residential and nonresidential service.

The study also found that the city’s utilities are in “sound financial condition.”

In 2019, the city contracted Raftelis to study all the city’s utility rates, the cost of serving the utilities and the structure of the funds to support the city, as well as developing a five-year plan. The bid for the study was $198,860.

Wednesday’s workshop was held after the Boulder City Review’s print deadline. For the latest details about the session, go to www.bouldercityreview.com.

Contact reporter Celia Shortt Goodyear at cgoodyear@bouldercityreview.com or at 702-586-9401. Follow her on Twitter @csgoodyear.