When Bonneville Power Administration announced a 46 percent wholesale rate increase for electricity in late June, many consumers thought that was the extent of looming increases.
It might not be.
Next month, Bonneville could implement another power rate increase of as much as 10 percent, Clallam County Public Utility District commissioners were told Monday.
“For six months, everyone was focused on the ‘load-based (rate increase),’ which will be an average 46 percent increase,” said Fred Mitchell, utility district assistant general manager. “But Bonneville also has a financial-based cost recovery clause.”
When Bonneville financial reserves decrease below a minimum threshold, another rate increase takes effect automatically, he said.
Bonneville officials won’t know until September if the increase will take effect or how much it will be, he said.
The full story appears in today’s Peninsula Daily News, on sale throughout Clallam and Jefferson counties. Click onto “Subscribe” to get your PDN delivered to your home or office.