Thursday 25th April 2024

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The Fayette City Council voted unanimously to raise electric rates during a recent meeting.

The council approved an increase of 10 percent for residential customers and a 3 percent increase for commercial customers.

The rise stems from a recommendation by Craig Woycheese from Toth and Associates. The company had recently carried out a study of Fayette’s electric rates. The study revealed that commercial rates, which are already higher, effectively subsidize the city’s residential sector.

The two combined rate hikes average a total increase of 6 percent. Smaller, incremental increases could be in store for the future.

The study done by Toth and Associates recommended 3 percent increases over the next five years, which the council is expected to approve. Electric rates have not gone up since 2007.

According to the study, residential electric customers should expect an increase of about $7.00 per month, with increases of $50.00 to $75.00 per month expected for commercial customers.