LUS Customers Could See Rate Hikes for Electricity, Water, and Wastewater Beginning Nov. 1
Lafayette Utilities System customers could be facing rate increases over the next three years beginning November 1, 2022.
LUS Rate Hikes
According to theadvocate.com, LUS proposed rate hikes today (8/9/22) as "the City Council reviewed Mayor-President Josh Guillory's proposed 2022-23 budget."
The rate increases presented are part of Mayor-President Josh Guillory's proposed 2022-23 budget for the next fiscal year which begins November 1, 2022.
The increases would be for electricity, water, and wastewater.
According to theadvocate.com -
"As proposed, base electric rates would increase 3% per year in 2023 and 2024; water rates would increase 8% every year in 2023, 2024, and 2025; and wastewater rates would increase 9.5% every year for 2023, 2024, and 2025, LUS Director Jeff Stewart said."
Obviously, the cost of everything is currently increasing, this also includes the price of business operational costs.
LUS Director Jeff Stewart says the rate hikes are needed for several reasons, such as operational costs, maintenance, and "capital investments to keep the utility system reliable" according to theadvocate.com.
Additionally, LUS is facing rising costs for materials and supplies, just like most other businesses in operation right now.
Then, there's the increase in fuel costs. When you think about all of the LUS company and maintenance vehicles, the pain at the pump has certainly made a sizable impact on the company.
The current LUS rate hike is presented is be spread out over the course of three years, but council members have asked the company to rework the hikes over a five-year period to hopefully make things easier for people to afford.
Read more over at theadvocate.com.