Springfield-area electric bills will increase by roughly 13 percent over the next three years after Springfield City Council approved a pair of bills calling for a new rate schedule and a new budget for City Utilities on Monday night. Both votes were 9 to zero.
The new electric rate plan was approved by the CU board last month. It will increase rates beginning next year, by 4.8 percent. Similar increases will follow in 2025 and 2026. In total, the increases will add just shy of $15 to the typical homeowner’s bill.
The electric rate increases are expected to bring in $39 million in new revenues. City Utilities officials say the increases are needed due to high inflation in recent years.
In other council business Monday night, the vote was 9-to-zero approving the fourth change to City Manager Jason Gage’s agreement with City Council since he was hired back in 2018.
Five years ago, Gage earned $220,000 per year. With his latest raise, about $21,000 , he will earn $267,000 per year. Council did not debate the agreement at Monday night’s meeting.
Monday night's meeting was the last meeting in Historic City Hall for a few years, as more than $6 million in renovations are beginning soon. Starting in early October, City Council and the Planning & Zoning Commission will meet at the Springfield Regional Police-Fire Training Center, 2620 West Battlefield.
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