Proposal for Offset of Electrical Rate Discussion on recommending using money (managed by the Finance Department, not MEAG) set aside for the new nuclear plant(s) around 2036 or 2037 to be used to offset the electric rate increase scheduled for January 2014 and potentially later years. I believe the fund referenced is Vogtle Trust fund 516 (approximately 2.3 million balance) and approximately 1.2 million to be set aside for this budget year (of which approximately $308,000 already been set aside). Requested by Council Member Goldstein.

Committee

FINANCE/INVESTMENTS COMMITTEE

Requested by

City Manager

Introduced

October 22, 2013

Passed

October 30, 2013