The city council voted 5-4 vote this morning to raise electric rates 13.8 percent over the next two years.
Four council members voted to support a lower, one-year rate increase of 7.9 percent—Bruce Harrell, Jan Drago, Richard McIver and Tom Rasmussen. Those four also opposed the higher, two-year increase. As we reported earlier this month, the lower increase would probably have hurt City Light’s bond rating, which would in turn have impacted the interest rates at which the utility (and potentially
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