Clark Public Utilities Board Adopts 2014 Budget for Electric, Generating and Water Systems
VANCOUVER, WA – December 10, 2013 – The Clark Public Utilities commission voted today to approve annual budgets for the electric, generating and water systems.
The combined operating budget for the electric and generating systems for 2014 is $367.5 million, $1.3 million less than 2013 due to a projected decrease in power supply costs. Power supply remains the large majority of the budget at 69.6 percent ($253.6 million) and the Operating and Maintenance budget is 13.2 percent at $48.5 million. The remainder is comprised of taxes, debt service, rate funded capital and conservation funding.
"The utility budgets are established with a focus on reliability and affordability, balanced with an ongoing commitment to maintaining the highest quality customer service," said Commission President Nancy Barnes. "The staff works year round to contain costs, maximize savings and further increase efficiency while continuing to rate best in its class for customer satisfaction."
Commissioners also approved $16.4 million for the 2014 water system budget, compared to $14.6 in 2013. The $1.8 million increase reflects state grant funding for further development of the utility’s Paradise Point well field.
Capital budgets for both the electric and water systems allocate funds for system maintenance and improvements. For the electric system, projects planned for the $27.4 million capital investment include treatment and replacement of aging underground cable, substation upgrades and road improvements. The $10.6 million capital budget for the water system includes nearly $7.8 million allocated for main extensions and upgrades with the remainder slated for reservoir and well construction.
Rate increases are not currently required to fund the approved utility budgets.