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FOR IMMEDIATE RELEASE
April 28, 2020
Public Utilities Board Decides Not to Increase Electric Rates
At its meeting on April 27, the city of Alameda’s Public Utilities Board unanimously decided not to increase electric rates for all AMP customers. The board voted to maintain the existing rates for the upcoming fiscal year, beginning July 1, 2020.
Due to the utility’s strong financial outlook, the Board decided not to raise electric rates during a time when AMP customers are experiencing the economic impacts of COVID-19. AMP had earlier expected to propose a rate increase of up to 2% due to increases in purchased power costs and increased transmission costs, and other operating expenses such as labor and strategic plan initiatives.
As presented at the Board’s annual budget workshop earlier in the evening, the increased costs will be paid out of AMP’s existing reserves. The Public Utilities Board will vote on the fiscal year 2021 budget at its June 2020 meeting.
As a community-owned and locally operated electric system, AMP does not make a profit on rates. The revenue from electric sales goes toward operation of the system and then to the community through annual transfers of $5.5 million to the city’s general fund for valuable community services.
AMP’s rates average approximately 20 percent lower than those in neighboring communities, saving Alamedans a total of $15.5 million.
AMP offers a variety of programs and services for customers who are interested in understanding their energy use or who are having trouble paying their utility bills. Customers who are experiencing financial hardship due to COVID-19 are urged to contact AMP’s customer service team at (510) 748-3900 between 8 a.m.-5 p.m., Mondays through Thursdays. Visit www.alamedamp.com to learn about AMP’s financial assistance programs.
Alameda Municipal Power (AMP) is a department of the city of Alameda that has served residents and businesses for 133 years. AMP provides power to more than 34,000 customers at rates that average 20 percent below neighboring communities.