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Seattleites will start to see more expensive electric bills after the Seattle City Council last week unanimously approved Seattle City Light’s six-year rate path.
The Seattle Public Utilities’ Strategic Business Plan includes an average annual electricity rate increase of 4.7% over the next six years. According to Seattle Public Utilities, monthly costs for a typical single-family home will go up by about $70 through 2030. Costs for City Light customers living in apartment units will increase by about $40 over the same period.
Electricity rates will increase by 5.4% alone next year as a part of the newly approved plan. A 5.4% increase is about $4.88 more a month for a typical residential bill, or $1.95 more a month for a typical residential Utility Discount Program bill.
“While we need these rate increases to cover the cost of providing reliable services and maintaining our system, we know they affect our customers,” Seattle Public Utilities said in a news release. “We take affordability seriously and are committed to ensuring our customers have access to essential utility services regardless of their financial situation.”
Seattle City Light CEO Dawn Lindell previously said that retail demand from building electrification is growing three times faster than projected in 2022, and transportation electrification demand has increased 70% above 2022 estimates.
This means that demand could outpace energy savings from efficiency in the next few years.
Seattle City Light officials estimated that the grand total of needed resources in 2022 was 696 megawatts over 20 years. In 2024, however, the grand total of needed resources over the next 20 years is 2,563 MW. That is a 268% increase in estimated resources.
Seattle City Councilmember Cathy Moore said that she was not in favor of the planned rate increases, but appreciated previous discussions the city council had with Seattle City Light.
“I was not comfortable with the rate path that was put forth, because I do think it actually understates what we are going to be seeing in the years to come,” Moore said at Tuesday's Seattle City Council meeting.
The public utilities department will update the plan after three years to account for any uncertainties.