There are hereby established rates and charges for the use and service of electric current for light and power based upon electricity consumed as recorded by electric meters based upon the type of premises served as follows:
(A) Electricity used for commercial purposes. The commercial rate used for billing commercial customers is determined as follows: The commercial rate shall be determined by first calculating the cost of wholesale power. The cost of wholesale power shall be as metered and tendered by the wholesale power company on a month to month basis. The total invoice cost, inclusive of gross use and demand charges, shall be divided by the total kilowatt hours (kwh) invoiced for the month. This calculated cost shall be rounded UP to the nearest fourth decimal. To this cost, the city shall add $0.0600 per kilowatt hour.
(B) Electricity used for residential purposes. The residential rate used for billing residential customers is determined as follows: The residential rate shall be determined by first calculating the cost of wholesale power. The cost of wholesale power shall be as metered and tendered by the wholesale power company on a month to month basis. The total invoice cost, inclusive of gross use and demand charges, shall be divided by the total kilowatt hours (kwh) invoices for the month. This calculated cost shall be rounded UP to the nearest fourth decimal. To this cost, the City shall add $0.0525 per kilowatt hour.
(C) Electricity used by the city. The rate for the electricity used by the city for city owned facilities and infrastructure shall be the same rate as the rate for residential purposes as set forth above in division (B) in this section.
(Ord. 20-1027-233, passed 10-27-2020; Ord. 22-0125-276, passed 1-25-2022)