ROCHESTER, Minn. (KTTC) -- The Rochester Public Utilities Board approved the 2014 RPU budget Tuesday which includes a 3 percent increase in the electric rate and a 1.5 percent spike in the water rate.
The 2014 RPU budget will require final approval from the Rochester City Council. If approved, the rate increases would take effect on Jan. 1, 2014.
"The increase would be to an average customer, on the electric side, $2.34 for electric," said Tony Benson, RPU Communications Coordinator. "On the water side it would be 17 cents per month."
The jump in rates comes in the wake of the winding down of the CapX2020 project, as well as RPU's desire to narrow the debt service ratio that has been wider since the economy slowed down.
The Rochester City Council will take up the 2014 RPU budget at its Nov. 18 meeting.
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