Dec. 7 2017: SMPA Proposes First Rate Increase in Nearly Six Years
At its November meeting, the San Miguel Power Association (SMPA) Board of Directors approved an operating and capital budget for 2018 that was based on extensive analysis of expenses and consideration that SMPA, without raising rates to the membership, had absorbed a $720,000 increase to the cost of wholesale power in early 2017.
Based on this 2018 budget as well as a detailed rate study of potential cost recovery methods, the staff has proposed an overall 1.2% rate increase for 2018.
“We are proud to say that this is the first rate increase we have had in nearly six years,” said SMPA CEO, Brad Zaporski. “The cost of basic goods and services, as measured by the Consumer Price Index, has gone up 12 percent since our last rate increase. Our rates have only gone up by 1.2% in this same time period.”
The Consumer Price Index (CPI) is a measure...