Customer Newsletter, December 2010
SPD Board Approves Capital Budget, Rate Adjustment for 2011
Southern Power
District’s Board of
Directors has approved
the 2011 Budget for
Capital Expenditure
items, as well as a
rate adjustment which
will be implemented on January 1, 2011. Customers will
see an average increase of 2.97 percent. All customers
will see an increase that will be no more than one percent
over or under the average increase.
President/CEO Gary Hedman said the District’s
Board of Directors were pleased that operation results
from 2010 were better than anticipated. “The District’s
performance in 2010 has allowed some of the increasing
costs to be absorbed—including higher wholesale power
costs and a larger capital budget.” The Capital Budget
for 2011 increased 5.99 percent from 2010—increasing
from $11.6 million to $12.3 million.
Hedman adds, “We have always carefully
watched the District’s operating expenses. This year we
were able to reduce costs, without compromising service
to our customers.”
The District will take advantage of a one-time
option within its 2001 bond issue to pay off those bonds
early. This will save $1.3 million over the next 10 years
on the $5.5 million balance now carrying an average
interest rate of 5%.
To keep on top of the District’s rate news, visit
our “Rate Watch” page at www.southernpd.com. You
can also receive notices of rate information by joining
Southern Power District on Facebook, or subscribing to
e-newsletters. Simply provide your current email
address when paying your bill.
Stories you'll find inside this edition:
- Is Your Contact Information Current?
Has your phone number or email address recently changed? More>>>
- EnergyWise Tip: Don't Invite "Old Man Winter" Into Your Home!
The weather outside might be frighful, but inside, you can still keep things delightful. More>>>
- Why Does the Power "Blink"
While blinks can be annoying, they show that an electrical system is working exactly as designed. More>>>
- The Cost of Cool Food
If your fridge dates from the 1980s, you could save more than $100 each year by replacing it with an ENERGY STAR qualified model. More>>>
- Recipe Box: Candy Cane Fudge
More>>>
