Lincoln, Neb.-- In a public meeting Thursday night, Lincoln Electric System (LES) proposed a 2.9 percent rate increase for 2014.
According to LES, the increase isn't because of higher power costs.
Instead, according to the meeting's report, the increase comes as part of their involvement in the Southwest Power Pool, "other operating and lab expenses," debt service and other adjustments.
Part of those expenses include a $1 million increase to the LES Sustainable Energy Program (SEP), a portion of LES dedicated to funding renewable energies.
If the proposal goes through, residents could see an increase of $2.41 on their monthly bills due to this rate adjustment.
Lincoln's proposed adjustments would be about $94 a month for the average customer.
In comparison to other regional cities, Omaha's current rate is $111 and Des Moines' $105.
According to the report, LES has the lowest rate of nine other cities in the region.
The increased rate isn't finalized, however.
The LES board will make final budget approval on Oct. 18th and the City Council will hold a public hearing Nov. 4.
The City Council makes the ultimate decision, and their final review of the proposed increase will happen Nov. 25.