Electricity rates will rise by an average of 5.5 percent in the Village of Arcade's municipal utility beginning Oct. 1 under a rate plan approved by the state Public Service Commission.
The rate increase, which will boost revenues to the municipal utility by nearly $242,000 a year, is less than the average rate increase of 6.9 percent that the utility had been seeking.
For residential customers using 500 kilowatt-hours of electricity, the new rate plan will mean an 87 cent increase in their monthly bills to $20.31 from the current $19.44, PSC documents said. The utility's largest commercial customers, using 10,000 kilowatt-hours of electricity, will see their average monthly bills jump by $29.13 to $625 from the current $597.
Even with the increase, the municipal utility's average residential rate of about 4 cents per kilowatt-hour is about two-thirds less than the prices charged by the region's conventional utilities.
The utility, which last increased its rates in March 2004, serves about 4,000 residential, commercial and industrial customers in the Village of Arcade and parts of the towns of Arcade, Freedom, Yorkshire and Sardinia.