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Austin Energy: Rate increasing 5% March 1

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https://www.kxan.com/news/local/austin/austin-energy-rate-increasing-5-march-1/

No this isn't a repost from January, or the multiple times in 2023...

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Energy is getting cheaper to produce but the rates are going up. They aren’t using the extra money to bury the power lines, so where is it all going?

cshlan

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@reddig33
Right now it's going to pay back the producers because ERCOT offered them way more than the limit during the '21 storm. Even though it did nothing to increase the amount available since if they weren't producing it was because they couldn't.
@netburnr

partial_accumen

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With many more to come it looks like:

Per Austin Energy’s policy, it can only adjust the PSA in increments of up to 5%.

Paraphrased "We would have raise it more in one go, but we're not legally allowed to"

“The increase is required to continue making progress on recovering power supply costs in order to position Austin Energy for an anticipated PSA under-recovery during the summer months,” AE said.

Paraphrased "We've got a bunch more of these 5% increases coming to you in the near future"