HOLLAND, MI (WHTC AM/FM) – As cash balances remain strong and system losses are less than most municipal systems, officials with the Holland Board of Public Works say they shouldn’t need any electric rate increases for the next five years.
HBPW General Manager David Koster says system losses of 1.4% are significantly below typical municipal system losses of 5.4%.
A recent Electric Cost of Service study did suggest consideration be given to moving towards cost based customer charges, with additional revenues used to decrease energy rates for customers in the affected classes.
In a report to the Board of Directors, Koster said the HBPW will continue to follow fiscal policies that ensure the long-term stability of finances, cash reserves, rates, and workforce.
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