Citing 'extraordinary inflationary pressures and depressed water sales,' the County Water Authority is considering raising rates for 2024.
SAN DIEGO - The San Diego County Water Authority Board of Directors will have a public hearing and vote Thursday about proposed increases of 8.2% or 9.5% in wholesale water rates for 2024.
According to a board statement, after reviewing additional information, the Water Authority's Finance Planning Work Group recommended another approach -- a rate increase of 9.5% that would meet the board's financial policies. The board previously announced a planned withdrawal of nearly $35 million from the rate stabilization fund by July 2024 to provide ratepayer relief, but which will also"bring the fund to its lowest level in more than a decade." The fund was created in 1990 to avoid rate spikes -- particularly those driven by reduced water sales following abnormally wet weather or mandatory cutbacks.
Kerl said the authority has taken budget- and rate-control measures for the past several years, leaving fewer options this year. Those actions have included front-loading savings on debt-refinancings.
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