Wymore City Council Approves Electric Rate increase

By Gordon HopkinsAt a meeting on Wednesday, March 20, the Wymore City Council held the third and final reading of an ordinance that would increase electric rates by eight percent in 2024 and again in 2025.A motion to raise rates requires three readings at council meetings before it can be implemented, although readings can be waived by a vote of the council. The council opted not to waive the readings to give the public an opportunity to comment at city council meetings. City Attorney explained the need for the rate increase, “We’re losing money on electric rates right now.”City Councilperson Max Allen said increasing costs necessitate the increase in rates, “Unfortunately, everything having to do with electricity has gone crazy. Not just the cost of the electricity, but also all the equipment to support the wire, the poles, transformers are crazy, absolutely crazy. The cost of transformers are now, in comparison to what they were five years ago, they’ve, literally doubled.” An electric rate study was completed for the City of Wymore by JK Energy Consulting, LLC, based in Smithfield. The purpose of the study was to review the financial performance of the city’s electric utility and develop rates that reflect the cost of service. The study recommended an additional increase eight percent in 2025.Carothers said, “We haven’t had an electrical rates steady for a number of years. So we, the city, has fallen behind. The plan is to have these rates evaluated about every three to four years to make sure we’re not losing money.”The council voted unanimously to approve the new rates.

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