KPLU Local News
(2010-03-04)
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City Light says it will have enough electricity for its customers. And drinking water won't be affected. But, with snow pack at its 8th lowest level in 50 years, Superintendant Jorge Carrasco says - unless there's miraculous amounts of snowfall this month -- City Light won't have nearly as much as expected to sell to other utilities.
"The issue is really a financial one. Because we are looking at a very poor water year, the amount of surplus power that we can sell in the market, to generate revenue to keep our rates down, is dramatically dropping."
He says they're now expecting to be short by about $70 million this year. That's about half of what the utility projected it would earn from surplus power.
Seattle's City Council is considering setting up a rate stabilization fund to make up for shortfalls in future years with lower than expected snowpack. But, in the meantime the utility says it may need to resort to another rate hike or temporary surcharge. The city says a 3% increase would bring in $18 million and cost the average household about $17 per year. The city council will be deciding in the next month.
For More Information:
Viedo from Seattle City Light: Snow Measurements
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