“With sales coming in higher than fiscal year 2011 projections and proposed budget reductions, we are able to reduce the projected 4-percent rate increase expected at last year’s budget approval to the 2.4-percent average level,” BLP General Manager Annette Allen said.
Allen said several different budget scenarios were considered prior to approving the rate increase — weighing the economic impact to customers with the necessity to maintain utility reliability and appropriately fund important capital expenditures.
“We worked awfully hard to make (the rate increase) as small as possible,” she said.
Fuel prices have increased about 3.5 percent, and the BLP has been able to absorb the cost of fuel as much as possible, Allen said.
To read more of this story, see today’s print edition of the Grand Haven Tribune.