OMU Solicits Public Input Regarding Plans To Reduce Electric Rates

While we are all in a deep freeze, Owensboro Municipal Utilities is putting together plans to reduce its customers' rates beginning in July.

According to the proposal by the OMU City Utility Commission, the average residential customer will see a 5.3% reduction in electrics beginning July 1st. This is possible due to the proposed reduction of one cent per kilowatt hour reduction in the Energy Cost Adjustment that would remain effective over at least the next 2 years. The average OMU customer's bill will be reduced by $5.04 per month beginning July 1st. Total savings to the OMU customers over the next 10 years is anticipated to be greater than $60 million.

The plans are, of course, dependent upon the City of Owensboro's permanent elimination of the OMU's $6.46 million per year dividend as they have indicated is the intent. On Thursday, the OMU City Utility Commission held a public hearing seeking community input.

Working cooperatively with the City, OMU's plans to present a conditional Electric Rate Ordinance to the City Commission for first reading on March 3rd with final action on the proposal anticipated at the March 17th City Commission meeting.