The monthly base rate for electric energy shall be based on the amount consumed as measured at the customer’s meter, and according to the class of customer, as follows.
(A) Base electric rates. The base monthly charge for electric energy shall be based on the amount consumed as measured at the customer’s meter, and according to the class of customer, as follows.
Type of Use | Amount | Rate effective 1- 1-24 |
Commercial and governmental - inside or outside corporate limits of Riverton | Up to 10 kwh | $12.00 |
Industrial and railroad service | Up to 10 kwh | $13.20 |
Residential - inside corporate limits of Riverton | Up to 10 kwh | $10.00 |
Residential - outside corporate limits of Riverton | Up to 10 kwh | $11.00 |
Senior citizens - inside corporate limits of Riverton only | Up to 10 kwh | 9.00 |
Rates for usage over 10 kwh will be determined by adding the cost of the purchased electric to the cost of the per unit overhead cost as determined by the review of the audit. | ||
Base Overhead cost | $.055733 | |
(B) Purchased electricity adjustment clause. There is hereby established a purchased electricity adjustment charge, which will be automatically added to or subtracted from the rates set forth in division (A) above. The purchased electricity adjustment charge shall be calculated monthly on the tenth day of each month, and shall be the difference in cost per kwh delivered to the village delivery station as of 11-1-2007 and the cost as of the tenth day of the month in which the calculation is made. The purchased electricity adjustment charge shall be applied to all electricity metered between the day on which it is calculated and the tenth day of the succeeding month.
(C) Annual adjustment of base rates. Beginning in November 2008, and every November thereafter, the Utilities Committee of the Village Board shall determine, based on the most recent audit, any percentage increase or decrease in overhead expense for the Electric Department in the previous year. At a regular or special Board meeting in December 2008, and every December thereafter, the Utilities Committee shall report any such percentage increase or decrease in the overhead expenses of the Electric Department to the Village Board, which report shall be placed in the minutes of the meeting. Effective 1-1-2009, and January 1 of every year thereafter, the base electric rates established above will be increased or decreased by the percentage increase reported by the Utilities Committee, unless the Village Board by resolution determines otherwise. Should the Utilities Committee fail to report the percentage increase or decrease to the Village Board, then the foregoing base rates will be increased or decreased by the rate of increase in the Consumer Price Index for All Urban Consumers (CPI-U) as published by the U.S. Department of Labor, Bureau of Labor Statistics, for the previous calendar year, without further amendment of this chapter, unless the Village Board by resolution determines otherwise. The new rates shall be published on the village website.
(D) Net metering customers. The village has instituted a net metering system for customers who wish to participate in the program. Those customers must sign an agreement for interconnection and parallel operation of distributed generation with the village, and the following rate schedule shall apply to those customers:
(1) Each customer will be charged the actual costs of establishing and maintaining the interconnection with the village, as set forth in the agreement for interconnection and parallel operation of distributed generation.
(2) The village will reconcile net metering accounts each July, by reading the customer meters in the July billing cycle each year. Any usage above net zero will be billed to the customer, by dividing that net usage figure into a monthly average, and applying the monthly rate structure set out above. Payment is due from the customer in the regular billing cycle of the village.
(Prior Code, § 50G.003) (Ord. 2002-06, passed - -; Ord. 2003-003, passed - -; Ord. 2003-032, passed - -; Ord. 2004-021, passed - -; Ord. 2005-005, passed - -; Ord. 2005-010, passed - -; Ord. 2006-001, passed - -; Ord. 2008-001, passed 1-21-2008; Ord. 18-020, passed 11-19-2018; Ord. 19-019, passed 7-15-2019; Ord. 19-037, passed 11-18-2019; Ord. 20-020, passed 11-16-2020; Ord. 21-020, passed 12-6-2021; Ord. 22-023, passed 11-21-2022; Ord. 23-018, passed 12-4-2023)
Editor’s note:
Utility rate analysis and changes became effective 1-1-2012.