Lincoln, Neb.-- During Friday's Administrative Board meeting, members approved LES' 2014 operating budget.
The budget will be submitted to the Lincoln City Council for approval.
LES Press Release
The Lincoln Electric System Administrative Board Friday (10/18) approved the proposed 2014 operating budget totaling $257.6 million and 2.9 percent system wide average retail rate increase.
Typical LES residential customers using 1,000 kilowatt hours per month would see an average increase of about $2.41 on their monthly bill effective Jan. 1, 2014.
According to Laura Kapustka, LES vice president of Financial Services & chief financial officer, the proposed retail rate adjustment would cover rising energy transmission costs, increased expenses to operate and maintain the utility's assets and system reliability, the updated forecast for energy sales, and the expansion of the utility's popular Sustainable Energy Program from $3 to $4 million in annual funds.
The $64.4 million capital construction and equipment portion of the budget authorization is $6.5 million less than last year's budget. The reduction is a result of he completion of several large construction projects in 2013, Kapustka said.
With the approval of the LES Administrative Board, the proposed budget and rate adjustment will be considered by the Lincoln City Council at a public hearing Nov. 4. The City Council is scheduled to take action on the 2014 LES budget and rate adjustment Nov. 25.
For tips to save money and energy, LES recommends visiting its website at www.les.com or its YouTube channel www.youtube.com/lesvideovault.